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With bowling and golf, one miscalculation will drastically alter the end result. Similarly, construction estimating is a precision sport. This article discusses strategies to adjust estimates to market conditions and avoid gutter balls and bogeys.
To successfully create collaborative construction cost estimates, you need to understand the roles being played, appreciate how roles affect each other, establish a common organizational framework and designate a “conductor.”
Conventional wisdom says that construction material prices increase slightly year-over-year. The thinking goes that, as long as supply chains aren’t interrupted, material prices will roughly match the rise of cost-of-living and inflation rates.
Just 10 minutes south of the Kennedy Space Center in Merritt Island, Florida, stands a sandy-colored building with oak trees in its parking lot that serves as office of Nelson Engineering Co.
Construction cost overruns are serious risks that can send ripples throughout an organization’s budgets and operations. Learn more about how to minimize these with accurate data.