Construction cost estimating is the process of calculating anticipated project costs, including applicable materials, labor, equipment, site overhead, and other expenses. It provides general contractors, trade subcontractors, developers, and project owners with an itemized, data-backed projection of what a project will cost to build before committing financial capital or submitting a bid tender.
A quantity takeoff (also called a material takeoff or MTO) is the detailed measurement and quantification of all physical items, assemblies, and materials required for a construction project based on its architectural, structural, civil, and MEP drawings and specifications. It extracts square footages, linear footages, cubic volumes, and individual counts into an organized schedule.
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