###### Answer: 504861

Construction contractors usually prepare bids or tenders to compete for a contract award for a project. To prepare the bid first a cost estimate is prepared to determine the costs and then establish the price(s). This involves reviewing the project’s plans and specifications to produce a take off or quantity survey which is a listing of all the materials and items of work required for a construction project by the construction documents. Together with prices for these components the measured quantities are the b…

Construction estimating software – Wikipedia

Cost estimation models – Wikipedia

Cost estimation models – Wikipedia

Bill of quantities – Wikipedia

Cost estimation models are mathematical algorithms or parametric equations used to estimate the costs of a product or project. The results of the models are typically necessary to obtain approval to proceed and are factored into business plans budgets and other financial planning and tracking mechanisms.

Creation. Bill of quantities are p…