Purpose of An EstimateTo know in advance the expected cost in varying degree of accuracy, at different phases of theproject. Owner's Purpose of Estimate1.Making investment decision in the conceptual stage.2.Negotiate and finalize the contract at the implementation phase.3.To implement cost control measures.Contractor's Purpose of Estimate1.Determine project cost and profit.2.To Implement cost control measure.3.To develop data base for that can be used for future project.Engineer's Purpose of Estimate1.Provide the owner with probable estimate.2.Evaluate alternatives.ComparisonofContractor's and Engineer's EstimatoContractor’s EstimatorDetermines actual cost of project for bidding purposes.Has detailed company cost data for labor and equipment.Knows which construction methods are to be used. Has knowledge of actual materials suppliers to be used and quantity discount prices.Engineer’s EstimatorDetermines expected cost.
