Question: 1. Explain the differences between the bid and the total estimated cost to the owner. 2. What is the primary purpose of estimating in the

1. Explain the differences between the bid and the total estimated cost to the owner.

2. What is the primary purpose of estimating in the building design and construction industries?

3.There are different levels of estimates performed at different stages of a projects life. Describe these estimates, their approximate accuracy, and the relative amount of time it takes to complete them.

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