About cost estimating
A cost estimate is the approximation of the cost of a program, project, or operation. The cost estimate is the product of the cost estimating process. The cost estimate has a single total value and may have identifiable component values. A problem with a cost overrun can be avoided with a credible, reliable, and accurate cost estimate. An estimator is the professional who prepares cost estimates. There are different types of estimators, whose title may be preceded by a modifier, such as building estimator, or electrical estimator, or chief estimator. Other professional titles may also prepare estimates or contribute to estimates, such as quantity surveyors, cost engineers, etc
In system, product, or facility acquisition planning, a cost estimate is used to evaluate the required funding and to compare with bids or tenders.
In construction contracting, a cost estimate is usually prepared to submit a bid or tender to compete for a contract award.
In facility maintenance and operation, cost estimates are used to establish funding or budgets.
In an attempt to manage liability risk, some firms avoid the use of the word estimate and instead refer to the estimate as an "Opinion of Probable Cost."
At All Africa Housing (Pty) Ltd we always endeavor to bring you the most accurate, most detailed and consumer friendly bill of materials.
It is the only truly 100% one stop estimating service.
It works for;
Potential owner builders and
Contact us for a demo costing, and decide for yourself.