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

id, aliases, title, tags

id	aliases	title	tags
		Actuarial Science for Construction Estimating	authorship/original destiny/permanent status/incomplete 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