CNST 378 9/3/2008 HW 1 Chapter 1 1. Detailed Estimate – This is the determination of the quantities and costs of everything required to complete the project. This includes the materials, labor, equipment, insurance bonds, overhead, and the profit. An example of a detailed estimate would be a general contractor that won that bid would use this to determine what he or she will charge to do the work required. Preliminary Estimate – This type of estimate uses the volume method which involves computing the number of cubic feet contained in the building and multiplying that volume by an assumed cost per cubic foot. It also uses the area method which is computed by using the square footage of the building and multiplying that area by an assumed cost per square foot. An example of using a preliminary estimate would be to check if the project, as designed, would be within the owner’s budget. Conceptual Estimate – This type of estimate is usually performed without any drawings
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