Make a Preliminary Construction Cost Estimate

Abstract

Another major issue to be resolved throughout the life of a project is cost management While time management is concerned with schedules, cost management focuses on estimates and budgets. The parallel tool to the Master Project Schedule is the Master Project Budget. At this stage, the construction portion of this budget relies on the Preliminary Construction Cost Estimates developed by the Construction Specialist (see Example 17, “Preliminary Cost Estimate”). Acquisition fees and other soft costs are generally determined by the Project Manager.