What are the different types of estimates and what are their uses?
Cost estimators have a specific process they use to measure the resources needed for a project. That includes determining the price of the resource, how much of the resource and can also include a value on time, not just physical resources. This video defines the different types of estimating; and reviews construction contracts and the impact on the cost estimate, as well as how cost estimating relates to project scheduling and project control.
Runtime: 27 minutes
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