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