Estimate, then repeat
outdated prices can doom construction projects; avoid them with the right estimating process
Imagine you discover your construction project has been using outdated pricing estimates. When the current figures come in, you realize that you've derailed your project and your relationship with the client and possibly endangered your job security. Now the client, architect and preconstruction consultant have to sit together and review how and why the project team got to this point. Tough decisions, such as overhauling the project's requirements, cutting the building area or reducing design quality, have to be made. If your project already has submitted a building permit, you likely will haveto submit a new one, adding significant time and expense.
Many articles are available exclusively to PMI members for 90 days after publication, designated by an orange security icon. After this period, all registered site users may view this content.