Cost Estimation Practice in Construction Companies Research Proposal

Cost friendship Practice in Construction Companies - Research Proposal ExampleThese costs volition be salt away from a variety of existing real construction companies. There is inherent risk involved in all construction companies and the rate of bankruptcy in construction industry is relatively higher than in any other type of business endeavor. For any construction company to succeed or fail, the employment played by quality attachment and results reliability cannot be underestimated. The final project will therefrom give a description of the estimating as well as the tendering process. This process is divided into various stages that take with acquisition of tender documents and ends with the tender submission. This project will significantly make use of computerized calculations due to the complexity of a number of formulations involved. Furthermore, this will help in data condensation and minimal use of publisher work to reduce on time, human error and financial costs. L ack of proper cost estimation in construction industry is probably one of the most contentious business issues in capital of Kuwait than in many other countries in the world. This is putting into consideration that this sector supports a very turgid portion of the Kuwaiti economy being among the largest industries in Kuwait, and its negligence therefore would result into a study drawback in the countrys economic growth. Provision of coherent and cogent cost estimation is snappy since the larger an industry gets, the more likely chances are that cost fatalities will be incurred. This project will give a description of the estimation process within the construction companies in Kuwait and the associated problems, base with acquisition of tendering documents to the actual submission of the tender. It will also give and explain some examples of indirect as well as direct estimation problems.