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Below is the Cost estimation flowchart for a construction project. Please explain the process. EXCLUDE OUTLIERS CLOSED JOB MOST COMPETENT BIDDER, AWARD OF THE PROJECT

Below is the Cost estimation flowchart for a construction project. Please explain the process.

EXCLUDE OUTLIERS CLOSED JOB MOST COMPETENT BIDDER, AWARD OF THE PROJECT FINAL ESTIMATE ACCOUNTING HISTORY ADJUSTMENT FOR NORMALIZATI ON FACTOR NEUTRALIZE THE DATA STATISTICAL ANALYSIS DETAILED PARAMETRIC ESTIMATE ANALYSIS DATABASE STATISTICAL ANALYSIS C.E.R.s PARAMETRIC ESTIMATING MODEL

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