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Home or residential renovation is an almost $300 billion industry in the United States, [5] and a $48 billion industry in Canada. [6] [full citation needed] The average cost per project is $3,000 in the United States and $11,000–15,000 in Canada. Professional home improvement is ancient and goes back to the beginning of recorded civilization.
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Basis of estimate (BOE) is a tool used in the field of project management by which members of the project team, usually estimators, project managers, or cost analysts, calculate the total cost of the project.
With American homeowners collectively sitting on a whopping $17.2 trillion in home equity as of 2024, you may be considering tapping into this resource to create the home you’ve always wanted.
In project management (e.g., for engineering), accurate estimates are the basis of sound project planning. Many processes have been developed to aid engineers in making accurate estimates, such as Analogy based estimation; Compartmentalization (i.e., breakdown of tasks) Cost estimate; Delphi method; Documenting estimation results; Educated ...
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