The Conceptual Estimate Methods and Improving Estimating Accuracy Best Practices Conceptual Estimating in Building Works Today, we are looking at conceptual estimating in building works. Building construction goes through two major phases: preconstruction and construction. The preconstruction phase spans from project conception up until the selected contractor starts building the project (the construction phase), which is the point at which the project enters the construction phase. Most building designs go through three major phases during the preconstruction [...]

5 Reasons Why Validating Project Cost Estimates Early is Good Practice Executive Summary Only 57% of all projects finished within their initial budget last year, according to an annual survey from the Project Management Institute (PMI)’s 2019 Pulse of the Profession—the global survey of project management practitioners. The survey identified inaccurate cost estimates as one of the leading causes of failure for projects that were deemed “failures” within the period of study. This survey reinforces the importance [...]