Option #2: Estimating Cost for Materials, Labor, and Equipment
Describe the main considerations in estimating the cost of (a) materials, (b) labor, and (c) equipment. As an estimator, what input data you need to prepare estimates in each of these categories.
Then, assume that you have been assigned as a cost estimation supervisor to review the work outcome of your team. Your team has prepared materials, labor and equipment estimates for a construction project. How you would review and assess their work and what elements do you evaluate to ensure they have exercised due diligence in preparing the estimates.
Provide a minimum of a four-page narrative (the four pages exclude the cover page and reference page that you have to provide). Of the four pages, two pages should be dedicated to Numbered Item 1 in the above instruction and two pages should be dedicated to Numbered Item 2 in the above instruction. Properly organize your work and add headings and subheadings in your narrative matching the numbered items outlined above (Numbered Items 1a, 1b, 1c, and 2). Support your statements and conclusions using the textbook, and at least two scholarly, peer-reviewed articles published in the most recent ten years.
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