04:13
Anonymous
Variability of Estimates
The following are where cost variances between one estimate and another can occur:
1. Quantity take off.
2. Material Costs.
3. Labor Costs.
4. Labor productivity forecasts.
5. Work Methods.
6. Construction equipment costs.
7. Indirect Job costs.
8. Subcontractor quotations.
9. Quotations from material suppliers.
10. Unknown site conditions.
11. Locational Factors.
12. Cost associated with the time element of the construction project and escalation costs.
13. Staging and project start up costs.
14. Overheads.
15. Profit element.
16. Contingency and risk allocation.
17. Errors in estimate formulation.
18. Basis of information used to formulate estimate.
19. Market forces.
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