• The extremely competitive environment of the construction industry forces ever
Because of this, it is very important to have accurate estimates.
• Construction firms constitute only about 8% of all businesses in the United States,
yet they make up more than 17% of all business failures. While some of the failures
may be attributed to causes such as over-extension, poor management, or lack of proper
financial controls, most failures result from unrealistic bids based on poor estimates.