Calculating Estimate-at-Completion and Estimate-to-Completion for Forecasting
Forecasting is an important practice when considering earned value management. Controlling expenses and keeping a project on track requires a proper understanding of two metrics: estimate-at-completion (EAC) and estimate-to-completion. (ETC). While EAC refers to the total expected cost for a project, ETC refers to the expected cost for finishing any remaining work. Therefore, both ETC…
The Ultimate Guide to Construction Cost Estimating
Incorrect construction cost estimating can quickly result in lost money and lost customers; doing it correctly, however, leads to business profitability and satisfied customers. With a variety of approaches to choose from, how do you find the best way to estimate your construction costs and keep your business running smoothly? SOFTWARE FOR COST ESTIMATING: IS…