purpose - Purpose of An Estimate To know in advance the expected cost in varying degree of accuracy at different phases of the project Owner's Purpose

Purpose of An Estimate To know in advance the expected cost in varying degree of accuracy, at different phases of the project. Owner's Purpose of Estimate 1. 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 Estimate 1. 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 Estimate 1. Provide the owner with probable estimate. 2. Evaluate alternatives. Comparison of Contractor ' s and Engineer ' s Estimato Contractor’s Estimator Determines 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 Estimator Determines expected cost.