The Role of Estimation on Construction Life Cycle
Estimates serve a number of different functions in the construction industry. The reason for estimating is to provide the most realistic prediction possible of time and cost at any given stage in a project. Over the life of a project the estimator should be able to produce a series of estimates, fro...
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| Format: | Article |
| Language: | English |
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Sciendo
2010-03-01
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| Series: | Bulletin of the Polytechnic Institute of Jassy: Constructions, Architechture Section |
| Subjects: | |
| Online Access: | http://www.bipcons.ce.tuiasi.ro/Content/ArticleInformation.php?ArticleID=170 |
| _version_ | 1811333203036733440 |
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| author | Eduard Antohie |
| author_facet | Eduard Antohie |
| author_sort | Eduard Antohie |
| collection | DOAJ |
| description | Estimates serve a number of different functions in the construction industry. The reason for estimating is to provide the most realistic prediction possible of time and cost at any given stage in a project. Over the life of a project the estimator should be able to produce a series of estimates, from an early estimate at beginning, to the final account, in which the increasing accuracy of the estimate is reflected in the decreasing extent of risk and uncertainty. All estimates take the form of base estimates, plus allowances for uncertainties and specific contingencies as required. The role of the estimator or practitioner in cost engineering is vital to the success of a construction project. The estimators are responsible for predicting the most economic costs for construction in a way that is both clear and consistent. Although an estimator will have a feel for the prices in the marketplace, it is the responsibility of management to add an amount for general overheads, assess the risks and turn the estimate into tender. |
| first_indexed | 2024-04-13T16:49:33Z |
| format | Article |
| id | doaj.art-9db7234949024169bf83794c5e68bcab |
| institution | Directory Open Access Journal |
| issn | 1224-3884 |
| language | English |
| last_indexed | 2024-04-13T16:49:33Z |
| publishDate | 2010-03-01 |
| publisher | Sciendo |
| record_format | Article |
| series | Bulletin of the Polytechnic Institute of Jassy: Constructions, Architechture Section |
| spelling | doaj.art-9db7234949024169bf83794c5e68bcab2022-12-22T02:38:59ZengSciendoBulletin of the Polytechnic Institute of Jassy: Constructions, Architechture Section1224-38842010-03-01LVI (LX)12732The Role of Estimation on Construction Life CycleEduard AntohieEstimates serve a number of different functions in the construction industry. The reason for estimating is to provide the most realistic prediction possible of time and cost at any given stage in a project. Over the life of a project the estimator should be able to produce a series of estimates, from an early estimate at beginning, to the final account, in which the increasing accuracy of the estimate is reflected in the decreasing extent of risk and uncertainty. All estimates take the form of base estimates, plus allowances for uncertainties and specific contingencies as required. The role of the estimator or practitioner in cost engineering is vital to the success of a construction project. The estimators are responsible for predicting the most economic costs for construction in a way that is both clear and consistent. Although an estimator will have a feel for the prices in the marketplace, it is the responsibility of management to add an amount for general overheads, assess the risks and turn the estimate into tender.http://www.bipcons.ce.tuiasi.ro/Content/ArticleInformation.php?ArticleID=170cost estimateestimatorcost engineeringcost construction life cyclecost management |
| spellingShingle | Eduard Antohie The Role of Estimation on Construction Life Cycle Bulletin of the Polytechnic Institute of Jassy: Constructions, Architechture Section cost estimate estimator cost engineering cost construction life cycle cost management |
| title | The Role of Estimation on Construction Life Cycle |
| title_full | The Role of Estimation on Construction Life Cycle |
| title_fullStr | The Role of Estimation on Construction Life Cycle |
| title_full_unstemmed | The Role of Estimation on Construction Life Cycle |
| title_short | The Role of Estimation on Construction Life Cycle |
| title_sort | role of estimation on construction life cycle |
| topic | cost estimate estimator cost engineering cost construction life cycle cost management |
| url | http://www.bipcons.ce.tuiasi.ro/Content/ArticleInformation.php?ArticleID=170 |
| work_keys_str_mv | AT eduardantohie theroleofestimationonconstructionlifecycle AT eduardantohie roleofestimationonconstructionlifecycle |