Construction estimating stakeholders: who uses the construction estimate of a project—owner, consulting architect/engineer, contractor—or all of these parties?

Introduction / Context:
A construction estimate turns scope into expected cost. Multiple parties rely on it for different purposes: owners for funding and approvals, designers for scope optimization, and contractors for pricing and execution planning. Recognizing the shared dependence on the estimate helps align expectations and risk allowances early.

Given Data / Assumptions:

• Project scope is defined at least to a schematic or detailed level.
• Estimate includes direct costs, indirects, overheads, contingencies, and taxes as applicable.
• Different users have different accuracy needs and decision horizons.

Concept / Approach:
Owners use estimates to establish budgets, secure financing, and evaluate feasibility. Designers compare alternatives and conduct value engineering to meet budget. Contractors rely on quantities, productivity, and market rates to submit competitive bids and manage costs during construction. Because the estimate influences every phase, all listed stakeholders are valid users.

Step-by-Step Solution:

Verification / Alternative check:

Why Other Options Are Wrong:

Common Pitfalls:

Final Answer: