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ABA 404 TOPIC 4: COST ESTIMATION AND FORECASTING
| Institution | MASENO UNIVERSITY |
| Course | ABA 404:MANAGEMENT A... |
| Year | 1st Year |
| Semester | Unknown |
| Posted By | Brian Mike |
| File Type | |
| Pages | 18 Pages |
| File Size | 419.4 KB |
| Views | 2716 |
| Downloads | 0 |
| Price: |
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Description
In this topic, you will learn to use cost estimating relationships to estimate and forecast costs. As the name implies, a cost estimating relationship (CER) is a technique used to estimate a particular cost or price by using an established relationship with an independent variable.
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For all engineering works it is required to know beforehand the probable cost of construction known as estimated cost. If the estimated cost is greater than the money available then attempts are made to reduce the cost by reducing the work or by changing the specifications. In preparing the estimate, the quantities of different items are calculated by simple maturation method and from these quantities the cost
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