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As cost estimating programs became more and more popular over the years, more advanced features, such as saving data for reuse, mass project-wide changes, and trade-specific calculations, have become available. [6] For example, programs that are designed for building construction, include libraries and program features for traditional builders.
In estimating for contracting, the cost is what something costs you to build, and price is what you charge another party for building it. RSMeans refers to this as, "Price the quantities." [ 25 ] ASPE recommends the "quantity times material and labor costs format" [ 27 ] for the compilation of the estimate.
Uniformat is a standard for classifying building specifications, cost estimating, and cost analysis in the U.S. and Canada. The elements are major components common to most buildings. The system can be used to provide consistency in the economic evaluation of building projects.
A building estimator or cost estimator is an individual that quantifies the materials, labor, and equipment needed to complete a construction project. Building cost estimating can concern diverse forms of construction from residential properties to hi-rise and civil works.
Cost engineers use software and other industry tools and resources to collect, analyze, and share cost data. Tools aside, choosing the appropriate cost engineering technique is critical. Techniques and methodologies can vary depending on several factors, including: The scope and complexity of the project; Project phase and maturity
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