Cost Estimation Techniques

Cost Estimation Techniques

Second Part of Chapter 3

Let's do some revision on the previous topic.

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Open Ended

EXERCISE:

In evaluating the feasibility of a major construction project, an engineer is interested in estimating the cost of skilled labor for the job. The engineer finds that a project of similar complexity and magnitude was completed 5 years ago at a skilled labor cost of $360,000. The skilled labor index was 3496 then and is now 4038. What is the estimated skilled labor cost?