A single construction cost number is a guess with confidence. Institutional feasibility triangulates — five methods, cross-checked, so the estimate has a defensible range, not a false-precision point.
The five methods
- RS Means / unit-cost data — published assemblies, adjusted for region and time.
- Parametric — cost driven by key parameters ($/sf, $/key, $/unit) from comparable projects.
- Comparable-project regression — actual costs from similar completed builds.
- Bottoms-up / subcontractor — trade-by-trade build of the number.
- Design-stage milestone — the estimate re-cut at each design phase as scope firms up.
Why triangulate. When five independent methods cluster, you have a real number; when they diverge, you've found exactly where to dig (often the off-site/infrastructure allowance). Estimates are approximate, never a guarantee or a bid.
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