| A | B |
|---|
| Labor costs | you must determine the labor rates for each trade such as carpenters, electricians and plumbers |
| Production rates | which is established how much material can be installed per hour or day |
| Overhead | is the cost of doing buisness for a company |
| Approxmate method | is also known as budget parameter estimating |
| Budget parameter estimating | is used by owners architects or contractors to determine a rough estimate |
| The detailed method | is the only accurate basis of cost estimationwhen the project is unique in structure, size, site and geofgraphic area |
| Step 1 | study construction prints |
| Step 2 | study construction specifications |
| Step 3 | study the agenda on the project and changes made to the project |
| Step 4 | create labor and material take offs |
| Step 5 | price labor and materials and calculate total costs |
| Step 6 | create a subcontractor list based on the listed specification items |
| Step 7 | add other costs including those covered under the general conditions in the specs |
| Addendum | are changes made to the project |
| Takeoffs | are lists of all labor costs |
