Welcome to Module 2, Cost Estimate Types, Methods and Development.
In this module, we will embark on a journey of discovering the world of construction cost estimating. While cost estimating may seem like a complex concept, it isn’t. All you need is a solid understanding of cost estimating principles, hands-on practice, familiarity with construction methodologies and sequencing, and the ability to read and comprehend construction project documentation, including project specifications. Entry-level cost estimators will typically begin with simpler projects, advancing to more intricate ones as their skills and experience in cost estimating grow.
Designed specifically for entry-level cost estimating, this course takes a progressive approach to exploring the cost estimating world, with each lesson building upon the previous one.
Throughout this module, we will lay the groundwork for cost estimating by introducing the definition of a cost estimate, its various types, and the methods used in cost estimating. Interestingly, there are multiple methods that can be employed for cost estimating, depending on the type of estimate being developed.
Our journey continues as we learn about the structure of a cost estimate and the process of creating one.
To help you consolidate your understanding, an assignment at the end of this module will allow you to recap the material covered.
In the next lesson, we will discuss the cost estimate definition, types, and methods of cost estimating.