Budget estimate
An estimate of the cost of work based on preliminary information and qualified to a degree of accuracy.
A budget estimate is a projection of the potential costs involved in a construction project. It includes detailed assessments of materials, labor, equipment, and contingencies. Accurate estimates are essential for financial planning and ensuring that the project remains within budget.
Used in a sentence
Our forecast to complete shows we are on track to finish under the original budget estimate.
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Estimate vs. Budget: Tools to Guide Construction Financial Planning
Whether building a residential home, a commercial complex or a large-scale infrastructure development, understanding and managing costs is key to completing a project on time and within financial limits. Effective financial planning allows project managers to handle unexpected challenges and maintain client trust. Two primary tools in financial planning for construction are the estimate and […]
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