Fundamentals Of Construction Estimating
4th Edition
ISBN: 9781337399395
Author: Pratt, David J.
Publisher: Cengage,
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Question
Chapter 8, Problem 1RQ
To determine
The two stages involved in pricing of an estimate.
Expert Solution & Answer
Explanation of Solution
Pricing of estimate is defined as the process of approximately calculating the cost of the project after considering various factors influencing the cost of the project.
There are two stages of pricing of estimate and are given below.
Stage 1 − It is the starting phase and during this stage, a general list of all items required is prepared. This phase is also known as take off phase since take off of all items in the bid package is done.
Stage -2 − In this phase the price of all the items in the list is calculated. During this stage, the estimator focuses on one trade at a time while performing the pricing of items so it is considered as recap. This phase is known as recap. After finishing the recap, the summary of pricing for each craft is made. This makes the final bid easy.
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Fundamentals Of Construction Estimating
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