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Invitation For Bid TAC 1073 Concealable Armor Vests Police Department Issued: November 28, 2016City of Tulsa, Oklahoma Page 1 of 27121416Addendum #4 Please note the following changes which have been
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How to fill out capital project cost estimating

01
To fill out capital project cost estimating, follow these steps:
02
Identify all the expenses associated with the capital project, including construction costs, equipment costs, permit fees, and professional fees.
03
Break down the costs into different categories, such as labor, materials, and overhead.
04
Estimate the quantity or amount needed for each cost category, based on the project requirements and specifications.
05
Research and determine the unit costs for each item in the cost categories.
06
Multiply the quantity or amount by the unit cost to calculate the cost for each item.
07
Sum up the costs for all the items to get the total estimated cost of the capital project.
08
Consider adding contingency reserves to account for any unforeseen expenses or changes in the project.
09
Double-check all the calculations and ensure accurate documentation of the estimated costs.
10
Review and update the cost estimate as the project progresses or new information becomes available.

Who needs capital project cost estimating?

01
Capital project cost estimating is needed by various individuals or organizations involved in planning, budgeting, and executing capital projects. This includes:
02
- Construction companies: Cost estimating helps them in preparing accurate bids for projects and managing their finances.
03
- Project managers: They use cost estimating to create project budgets, track expenses, and ensure projects stay within financial limits.
04
- Architects and engineers: They rely on cost estimating to determine the feasibility of design options and make informed decisions during the planning phase.
05
- Government agencies: Cost estimating is essential for public infrastructure projects to allocate budgets, secure funding, and ensure cost-effective use of taxpayers' money.
06
- Real estate developers: They need cost estimating to assess the financial viability of projects and attract potential investors.
07
- Financial institutions: Cost estimating assists them in evaluating the financial viability and risks associated with capital projects before providing funding.
08
- Contractors and subcontractors: They utilize cost estimating to plan and manage their resources, negotiate contracts, and determine project profitability.

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