Dictionary of Business Terms: cost estimating
cost estimating
determining the total costs of labor, materials, capital, and professional fees required for a proposed product.
Dictionary of Real Estate Terms: cost estimating
cost estimating
in construction, the act of predicting the total costs of labor, materials, capital, and professional fees required to construct a proposed project.
Example: When cost estimating the new hospital, Superior Engineering Company took into account the current costs of building materials, the labor supply situation, and the short-term interest rates available from local construction lenders.
