One of the first tasks when managing a project is the cost estimate. A cost estimate must be accurate, transparent and reliable. These factors are particularly important for a small business because ...

Two key features of a project are on-time and on-budget delivery. The project manager can only fulfill these objectives if the estimates leading to the project schedule and budget are accurate.

Cost estimation, a pivotal component in project management and production planning, has increasingly harnessed the power of machine learning techniques to augment accuracy and efficiency. By ...

Dan Galorath is founder and CEO of Galorath, a leader in cost estimation, actionable data and expertise for informed decision-making. Cost engineering has always been pivotal in balancing project ...

Sean Ross is a strategic adviser at 1031x.com, Investopedia contributor, and the founder and manager of Free Lances Ltd. Accurate capital cost estimation is crucial for determining a project's ...

Pepper Construction chose estimating software that integrates with building information models (BIM) to slash estimating time and cost, and offer project owners custom estimate analyses that drive ...

When people admire a beautifully designed home or a well-planned commercial space, they often focus on the architecture, ...

Value stream management involves people in the organization to examine workflows and other processes to ensure they are deriving the maximum value from their efforts while eliminating waste — of ...

As a brief reminder, parametric cost estimating is a technique in which an algorithm (or curve) is used to rapidly calculate costs based on historical data and project parameters (cost drivers such as ...