zmVault/utility-in-construction-estimating.md

title, tags

title	tags
	topic/estimating topic/risk type/cross-topic

Utility in Construction Estimating

Cross-topic of utility and construction-estimating.

Expected Value of Perfect Information

uncertainty#Expected Value of Perfect Information

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an organization pays in estimator hours. These hours have a direct cost in salary and benefits, however the greater cost is the opportunity cost of tying up an estimator who could otherwise be starting a new project.

In many cases, the utility of doubled throughput far outweighs the increased risk of individual bids.

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