Vault backup 2025-07-17

purpose-of-estimating.md

@@ -1,5 +1,7 @@
 # The Purpose of Estimating
 
+%% TODO: The content of this note is likely better put elsewhere %%
+
 ## The Purpose of Construction Cost Estimation
 
 The purpose of [[construction-estimating]] in practice
@@ -10,25 +12,33 @@ which would take far longer than allotted for bid,
 
 * Determine feasibility of functional requirements
 
-### Type 2 Owners
-
-For some owners, money is no object,
-and standardization is far more important
-than any potential construction savings.
-
-These owners can be expected to decline every [[value-engineering]] option offered
-(see [[gold-plating]]).
+> [!info] Type 2 Owners
+> For some owners, money is no object,
+> and standardization is far more important
+> than any potential construction savings.
+> 
+> These owners can be expected to decline every [[value-engineering]] option offered
+> (see [[gold-plating]]).
 
 ## For the Contractor
 
 * Make profit to meet growth target
 * Secure work for current and projected employees (fill backlog)
 
+%% TODO: "Determine the sale price of a service" %%
+
+> [!aside]
+> I take increasing issue with the common model
+> of measuring operational success by negative overrun,
+> as it is incompatible with the preferable target of estimate certainty.
+
 ### The Role of the Estimator
 
 The role of the estimator is to model the potential cost distribution of the project,
 taking actions to reduce the model's uncertainty.
-The progress of the estimator can be measured by $\frac{d\sigma}{dt}$
+
+The effect of estimating methods can be represented as $d\sigma$,
+thus efficiency is $\frac{d\sigma}{dt}$.
 
 ### The Role of the Executive