Without the benefit of drawings or specifications, would the estimate from Exercise 1 be considered a budget,
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Without the benefit of drawings or specifications, would the estimate from Exercise 1 be considered a budget, or a guaranteed maximum price, or a lump sum bid? If your answer was budget, what changes to the estimate and documents would be necessary to transform the estimate into a GMP? What additional changes would be necessary to transform the GMP into a lump sum bid?
Data from exercise 1
Using a cost data guide, such as Means or The Guide, prepare an assemblies estimate for a 2,000 square foot single story residence with at least 20-line items. Apply all of the appropriate markups.
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Related Book For
Construction Cost Estimating
ISBN: 9780367902681
1st Edition
Authors: John E. Schaufelberger, Len Holm
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