“Should We Just Flip a Coin?” – The Hilarious (and Slightly Terrifying) World of Infrastructure Cost Estimation

Estimated read time 2 min read

Ah, infrastructure cost estimation. The art of predicting the future, gazing into the crystal ball of budgets and sometimes feeling like you’re just… winging it.

We spend countless hours reviewing data, analysing blueprints, and factoring in every conceivable variable to make our cost estimation skills more accurate. But let’s be honest; sometimes, it feels like we’re one rogue squirrel or a hidden network of underground rivers away from throwing our meticulously crafted estimates out the window.

cost estimation

So, the question begs: should we flip a coin? (Don’t worry, we wouldn’t recommend that).

The truth is, while there’s an element of uncertainty inherent in any estimation process, there are ways to increase accuracy and avoid nasty surprises.

Here are a few tips from your friendly neighbourhood cost estimator:

  • Embrace the power of data: Historical data is your best friend. Use it to identify trends, assess risks, and inform your estimates.
  • Plan for the unexpected: Build contingency buffers to account for unforeseen circumstances (because, let’s face it, they’ll happen).
  • Communicate openly and honestly: Transparency with stakeholders is crucial in managing expectations and keeping everyone on the same page.

When combining these strategies with a healthy dose of humour (and a lucky rabbit’s foot for good measure), we can navigate the sometimes treacherous world of infrastructure cost estimation.

Now, let’s hear from you! Share your own funny stories or near misses in cost estimation. What are some of the most unexpected challenges you’ve encountered?

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