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A Cost Estimate is an approximation of the total expenses required to complete a construction project. It is based on factors such as project scope, materials, labor, and overhead costs. Cost estimates are essential for budgeting, financial planning, and determining the feasibility of a project. They can be prepared at various stages, from preliminary estimates to detailed, itemized estimates.
Creating a detailed Cost Estimate involves assessing all potential expenses related to a project or business operation. A comprehensive cost estimate typically includes direct and indirect costs, fixed and variable costs, and can be broken down into various categories.
Projected cost of building a new warehouse.
