5
February
by Jeffrey C Kadlowec, Registered Architect With growing demands on the construction industry managing both production cost and transaction costs has become critical to the success of a project. Although much emphasis is placed the accuracy of estimates which are a combination of materials and labor, not enough attention is focused on the cost of project management [1]. The emergence of new technologies for use in design, estimating and management provide the opportunity to control the total project cost while balancing the quality of the work against the time spent managing it. The equation presented by [1] expresses the cost.
