agement (Owner) has just informed me that they are looking into initiating a new
ID: 1712954 • Letter: A
Question
agement (Owner) has just informed me that they are looking into initiating a new project. I know from experience, our group completed a similar project of comparable scope and magnitude earlier this year. Before I am able to determine a budget to allocate for construction, I look into the historical documents of said project folder. I see that the project was completed for a TCC of $2,356,500. I find two unlabeled estimates in the amount of $1,550,000 and $2,500,000, respectively. 3. Man At what stage was each estimate produced in? How would I know this?Explanation / Answer
Answer -
Here the Total cost of construction is $ 2,356,500.
From the first unlabelled estimate of $1,550,000 this estimate should have been carried out before the commencment of the project based on the idle condtions of the project.This can be inferred by seeing that the TCC and estimated costs are of huge differences.
Form the second unlabelled estimate of $2,500,000 this estimate should have been carried out during the project in-progress stage since the amount is close to TCC and due to certain delays or resources constraints the estimates would have been revised.
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