zmVault/actuarial-science-for-construction-estimating.md

title, tags

title	tags
Actuarial Science for Construction Estimating	topic/estimating topic/risk type/cross-topic

Actuarial Science for Construction Estimating

Cross-topic of actuarial-science and construction-estimating.

For a contractor, construction projects are like investments in that they have a cost and return. However, for construction projects, return is known but cost must be estimated. In this way, projects are better compared to insurance accounts.

• cost of individual service is uncertain
• cost to customer must be minimized

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