As the programming and design phase of a project progresses, it is important for a cost estimator to be involved. Forecasting the overall cost of a project is vital information that owners and architects need to determine project scope and feasibility of all options being explored. Knowledge of recent building trends, alternative construction methods, the subcontractor market, and associated cost implications help guide the programming phase of design.
Once the design and programming phase of the project is completed, the estimator is tasked with establishing project costs for the owner before beginning construction. The goal of an estimator is to establish costs that reflect the actual costs of the project upon completion. Being able to accurately project these costs will provide the owner with the confidence they need to proceed with their project.
Determining the feasibility of a project from a financial perspective will help provide an owner with a plan to finance the project appropriately to guarantee successful completion of a project. This provides a solid foundation to build a project on.