Cost Estimating: Fundamentals

Engineers, architects and contractors are often asked to prepare cost estimates when working on a new project. This 1-hour interactive online course takes you through the process discussing where, in the various stages in project development, cost estimates are made. Through illustrations, you will consider different methods of cost estimating, the level of project detail required for each, and when the use of each method is indicated. You will understand the uncertainties associated with a bid due to level of detail available and the economics of inflation. You will learn to recognize these uncertainties and include contingencies and adjustments for inflation. For those who are new to cost estimating, this course is an introduction. You may find yourself going over sections more than once. For the experienced Estimator, you will find this course a guide and a reference as the only way for any Estimator to improve is to practice what they have learned. Move on through this course and into the field of cost estimating. ATTN: This educational offering is recognized by the Minnesota Department of Labor and Industry as satisfying 1 hour of credit toward the required continuing education.

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