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Estimate costs for a construction project using the following data: Activity Estimated Cost ($) Site Preparation 120,000 Foundation 180,000 Framing 240,000 Roofing 150,000 Requirements: Calculate


  1. Estimate costs for a construction project using the following data:

ActivityEstimated Cost ($)
Site Preparation120,000
Foundation180,000
Framing240,000
Roofing150,000

Requirements:

  • Calculate the total estimated cost for the project.
  • Present the estimation process in a table.
  • Explain the methodology used for cost estimation.
  • Identify potential sources of uncertainty in the estimation.
  • Provide strategies for managing cost uncertainties.

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