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The main task of contractors' estimators is to predict the likely costs involved in executing a future project. This is an onerous job as any errors made can undermine project success and ultimately reduce the contractors' profit margins. The inherent uncertainty of most construction work,...
Persistent link: https://www.econbiz.de/10005482466
The accuracy of an estimate may directly affect the success or failure of a project. Therefore, it is common for estimators in the construction industry to experience a great deal of stress. An appropriate coping behaviour can help estimators to adjust to stress, thereby optimizing their...
Persistent link: https://www.econbiz.de/10005482557
Cost estimators play an important role in an organization, as they produce most predictions of probable final construction cost. Since both under- and overestimates can be costly, attention should be paid to the estimating tasks. People involved are therefore likely to experience a considerable...
Persistent link: https://www.econbiz.de/10005482622
Cost estimation not only requires precise technical and analytical input from estimators but also involves the use of subjective judgement. An investigation on the impact of stress on estimation performance was conducted involving 177 professional estimators in Hong Kong. Using correlation...
Persistent link: https://www.econbiz.de/10009194449