LULA BUILD BLOG
Developing a well defined and accurate cost estimate for a project is one of the first and most important steps of any construction contract. Several different methodologies exist. This post will explore the advantages of following a so-called first principle approach to cost estimation.
It is quite common for contractors to use Excel spreadsheets to develop their cost estimates, as it is a tool which is familiar and readily available. This post will look at why Excel is not necessarily the right tool for the job and how it can end up costing the contractor money in unanticipated ways.