One of the first tasks when managing a project is the cost estimate. A cost estimate must be accurate, transparent and reliable. These factors are particularly important for a small business because ...

The aim of effective project management is to bring the project to completion on time and on schedule. Estimating project duration is a key function of scheduling. Individual activities make up the ...

The purpose of the estimate is two-fold. First, it allows the contractor to enter into a contractual agreement with confidence. Second, it provides an organized, detailed plan to execute the project ...

There are three main areas to estimate before your project starts--effort, duration, and cost. Of the three, you must estimate effort first to understand the total amount of work. The duration can be ...

Let’s start with some estimate definitions – The first type of estimate is called an “order of magnitude” estimate. This is usually a guess that some upper-level has determined is the right amount of ...

Consistently estimating accurately builds confidence, speeds up bidding and positions your company to win more profitable ...

Once you understand the effort that’s required, you can assign resources to determine how long a project will take (duration) and then you can estimate labor and non-labor costs. There are three early ...

Pepper Construction chose estimating software that integrates with building information models (BIM) to slash estimating time and cost, and offer project owners custom estimate analyses that drive ...

Project work estimation has three components: the initial first cut, commonly known as a SWAG (scientific wild-ass guess), tracking the estimate against the actual numbers, and using the schedule to ...

Think of how often you have been unprepared for a meeting or another important engagement. Opportunity is lost when we are unprepared. Benjamin Franklin said, “By failing to prepare, you are preparing ...