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How to Take an Effective Engineering Cost Estimate
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[QUOTE="Holicent, post: 253480, member: 76163"] [FONT=Trebuchet MS]The engineering cost estimate is an important part of the project management process. It helps you determine how much your project will cost and whether it's feasible. The first step in creating an engineering cost estimate is to gather all the information you can about the project. This includes items such as: -The type of work being performed -How much time you expect it will take for each task -What resources are needed to complete the work Once you have this information, create a list of tasks with estimates for each one. For example, if your company is building a house and wants to know how much it will cost to install plumbing and electrical systems, you should list each step separately on your list. Then assign costs based on what other companies charge for similar projects. If there are no similar projects available in your area, use averages from other parts of the country or world where similar work has been done before (e.g., average hourly rates for plumbers).[/FONT] [/QUOTE]
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