• Estimating costs for a construction project, the following data is available:

  Activity	Estimated Cost ($)
  Excavation	20,000
  Foundation	30,000
  Framing	40,000
  Roofing	25,000

  Your requirements are as follows:

  • Calculate the total estimated cost for the project.
  • Present the estimation process in a table.
  • Provide a paragraph discussing the methodology used for cost estimation.
  • Discuss potential sources of uncertainty in cost estimation.
  • Include a bullet list of risk mitigation strategies.