An estimate is a prediction of the cost, time, and resources required to complete a project. It is a critical component of project planning and management, as it allows stakeholders to make informed decisions about the feasibility and viability of a project. Estimates are typically based on a detailed analysis of the project requirements, including materials, labor, and other costs. The accuracy of an estimate depends on the quality of data inputs, the experience and expertise of the estimator, and the accuracy of the estimating process. One important aspect of estimating is risk management. Estimators must identify potential risks and uncertainties that could impact the project, and factor these into their estimates. This requires a thorough understanding of the project requirements, as well as knowledge of industry standards and best practices. Estimators must also be able to communicate the risks and uncertainties to stakeholders, and provide recommendations for mitigating these risks. Another key aspect of estimating is cost control. Estimators must be able to identify cost-saving opportunities and make recommendations for reducing project costs without compromising quality or safety. This requires a deep understanding of the project requirements, as well as knowledge of industry trends and best practices. Overall, estimating is a critical component of project planning and management. It requires a deep understanding of the project requirements, as well as knowledge of industry standards and best practices. Estimators must be able to identify potential risks and uncertainties, and make recommendations for mitigating these risks. They must also be able to identify cost-saving opportunities and make recommendations for reducing project costs without compromising quality or safety.
prediction, cost, time, resources, project planning, risk management, cost control, industry standards, best practices
Estimate, within the context of architecture, is a comprehensive evaluation of the numerous variables in the planning, designing and construction process. It is a prediction of the time, money and resources that must be expended to complete a project. It also encompasses materials, labor, and other costs as well as the necessary time, skills and expertise to complete the job. Estimate also involves the evaluation of expected outcomes and a comparison with the desired results. It is important to note that the accuracy of an estimate can be determined by the quality of data inputs, the experience and expertise of the estimator and the accuracy of the estimating process.
Cost, Scheduling, Resources, Scope, Risk.
Masonry is a craft that requires precision, skill, and an eye for detail in order to build structures that are both aesthetically pleasing and structurally sound. Estimation plays an important role in this process, as it entails a comprehensive assessment of the materials and labor needed to complete a project. In the context of architecture, an estimate is a prediction of the cost and effort necessary to complete a project, based on calculations of the resources available. Estimating also includes the determination of any additional costs or unforeseen risks associated with the project.
Materials, labor, time, budget, design, risk.
CITATION : "Shelly Stone. 'Estimate.' Design+Encyclopedia. https://design-encyclopedia.com/?E=236244 (Accessed on July 08, 2025)"
We have 216.545 Topics and 472.615 Entries and Estimate has 3 entries on Design+Encyclopedia. Design+Encyclopedia is a free encyclopedia, written collaboratively by designers, creators, artists, innovators and architects. Become a contributor and expand our knowledge on Estimate today.