Economics in Construction Essay

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Hello, Can I know about word count that you need for this job? I have done similar type of work for one more client, Please have a look at it: Construction Economics and Estimating Cost planning is the testing of the financial feasibility of a project using a number of techniques. The product of this process usually assists the client in making a budget for the project. As its work is to determine how much a project might cost, cost planning is thus an important tool in budgeting. The most important thing to do is for the planner to come up with a well-researched cost bracket, for all materials that will be used in the project. This approach is a reliable way of developing the budget for the construction project (Smith & Jaggar, 2007). The planner must then think of a unit-based feasibility calculation, which focuses on the materials used, on a unit basis (Smith & Jaggar, 2007). The unit-based calculation determines the price of each unit to be used in the project, such as a window, a door or an Iron sheet, among other important items. By coming up with a total value of the various expected items, the cost plan will be capable of coming up with a feasible budget, which can be then forwarded to the client for analysis and decision-making. The budget estimate must be realistic enough, in order to ensure that the subsequent stages of the process are credible enough to provide a perfect guidance for the client. This technique is known as budget setting, and it entails a number o

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