3/16/2024 0 Comments Construct 3 pricing![]() So your estimate is $132 – which is 4 people at $30 plus 10% contingency. You could add a contingency of 10% to these prices, so the $20 has a $2 contingency and the $10 has a $1 contingency. Now, this is a guess based on previous experience. So you say there are four people and assume that each person chooses an item that costs $20, and they order drinks that cost $10. If you’ve been to the restaurant before you might have an idea of the average meal costs. How much will it cost and what restaurant can you afford? When you assume the cost You decide that you are taking the family for dinner at a restaurant. How to calculate construction contingency cost Alternatively, if their price for the project is higher than other contractors’ prices they won’t win the project. If their price is too low then they lose money when the project costs exceed the price they agreed with the client. ![]() Alternatively, when budgets are too high the project appears to be too expensive and unviable and it’s canceled.Ĭontractors also confuse real costs, estimates, and contingencies when they price projects. This can result in budgets that are too low, meaning they run out of money before the project is completed. When clients and owners prepare project budgets they often confuse real costs, estimates, and contingencies. ![]()
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