Master Construction Cost Estimating in 36 Minutes

Timothy Fairley explains construction cost estimating step by step, from early feasibility and order-of-magnitude estimates through detailed estimating and construction budgeting to an approved project budget. FREE Construction Estimate Template: https://www.mastt.com/resources/const... You’ll learn how Tim approaches construction cost estimating as a project moves from early feasibility into detailed planning. He explains how costs are built up, how estimate confidence changes over time, and how allowances such as contingency and financing are considered. He also walks through how estimates are refined using project scope, market pricing, contractor input, and procurement before being converted into a working project budget. 🚀 Get Started with Mastt Start for FREE: https://www.mastt.com Construction Project Cost Management Software: https://www.mastt.com/product/finances Product Tour: https://www.mastt.com/product-tour Dashboards & Templates: https://www.mastt.com/template-library Chapters: 00:00 What is construction cost estimating? 01:00 Why construction cost estimating matters for owners and contractors 02:39 3 outputs of a construction estimate: cost, responsibility, confidence 03:36 The 6 steps from project idea to approved budget 04:07 Step 1: define the objective, sell or retain the asset 06:16 Total project cost: development, ownership, and financing 08:34 Known vs unknown costs and estimate uncertainty 09:47 Inclusions and exclusions: who does what 11:13 What is top-down or parametric estimating? 12:42 What is a bottom-up estimate? 13:37 When should you use top-down vs bottom-up estimates? 14:22 How accurate are early cost estimates? 16:14 Estimating CAPEX: land, design, construction, and overheads 17:59 Construction packages and the work breakdown structure 19:43 Estimating project duration and owner overheads 20:21 Estimating OPEX: operations, maintenance, and decommissioning 23:05 Forecasting revenue: selling vs retaining the asset 23:53 Cash flow timeline and funding: debt vs equity 25:56 Testing the feasibility model before costs lock in 28:06 From feasibility estimate to detailed pricing 29:24 Design drawings and exact quantities 30:12 Market pricing: scopes of work, quotes, and bid leveling 32:39 Forecasting variations on each package 33:15 Refining owner overheads, O&M, and financing costs 34:54 Go or no-go: converting the estimate into a budget 🔔 Stay Connected YouTube:    / @masttglobal   LinkedIn:   / mastt   Facebook:   / masttglobal   Instagram:   / masttglobal   X: https://x.com/MasttGlobal Pinterest:   / masttglobal   TikTok:   / masttglobal   #ConstructionCostEstimating #ConstructionEstimating #ConstructionBudgeting #CostEstimating #ProjectCostManagement #ConstructionCosts #ConstructionBudget