Construction Cost Estimating: Types and Purposes of Estimates

By the end of this course you will be able to: State the purpose of an estimate and the primary objective of a contractor when preparing one List the various types of estimates Define the terms assembly and escalation as they are used in estimating Identify the characteristics of the five class types of the Cost Estimate Classification Matrix Recall the primary purpose of performing a Cost and Schedule Risk Analysis (CSRA) List the items included in a GMP (Guaranteed Maximum Price) on a Design/Build project Identify the items to be evaluated in a change order proposal Describe how a Contractors monthly payment on a contract is determined