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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



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

    ActivityEstimated Cost ($)
    Excavation20,000
    Foundation30,000
    Framing40,000
    Roofing25,000

    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.

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