Cost estimating is crucial in evaluating real estate development, redevelopment or renovation costs, leading to better and more timely decision making from more accurate data.

Cost estimating is a process that mitigates risk, commencing from highly conceptual models through complete detailed takeoffs of contract drawings and specifications.  Development cost estimating and contract compliance are important in the validation, negotiation, or rejection of proposed cost changes orders during the construction phase.

This effort involves creating a conceptual cost model for land, professional fees, construction, FF&E, OS&E, systems, financing costs and contingencies.