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Back to the basics: what is project cost estimation?

Back to the basics: what is project cost estimation?

In the field of cost engineering and cost management, project cost estimation plays a central role. What is project cost estimation and why is it so important?

  • Cost control and risk management: How do they relate?

    Especially for large projects, it is common to have at least one risk analysis session. In such a session, different stakeholders and experts try and identify events that might impact the performance of the project. It is also determined how to mitigate or even prevent these potential problems from occurring.

  • The Seminar ‘The Future of Project Controls’

    Cost Engineering and Witteveen+Bos hosted the seminar ‘The Future of Project Controls’ which focused on the infrastructure projects. The aim was to increase the awareness of the changing landscape of project controls and the need for total cost management in the industry.

  • How to make a cost management plan? 3 tips

    Setting up a cost management plan is an extensive process. It provides the basis for scope management, schedule planning, cost estimating and budgeting, resource planning, value analysis and engineering, risk management and procurement planning. Here are 3 tips to help guide your way:

  • 3 types of construction cost estimating

    Let’s look at one of the challenges of the cost engineer: estimating construction costs. Generally, direct project costs include construction work, material supply and equipment. Often, construction costs prove to be the most difficult part of the estimate.