Cost Estimation Techniques in Construction Project

Introduction

Effective Cost Estimation Techniques in Construction Project is key to the success of a construction project. The preparation of a cost estimates for a project is one of the most difficult tasks in project management. Nowadays, successful cost estimating has to be based on thorough and updated information and processed utilizing a well designed estimating software. Cost analyzes are developed at all stages of the investment process for building structures. The paper describes the basic forms of cost estimation used in Poland for building structures and construction works. This chapter describes the most widely used sources of price information for this reason. The explanations given indicate variations in the cost of construction work measured on the basis of data provided by different price publishing. The paper aims to define the causes of price differences at each cost measurement level and presents cost reduction solutions

The construction industry is considered an important sector for the development in Gaza Strip. The cost estimation process is an important element of the construction industry. Early-stage cost estimate plays a significant role in the success of any construction project. Conceptual estimating is the process of establishing a project‟s cost construction cost. The construction industry plays a major role in the development and achievement of the goals of the society. 

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