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MTE – Lecture 4 Contractor’s Estimating Article 1 – Contractor’s Estimating: Fundamentals and Tender Considerations Introduction Contractor’s estimating is the process of building up a price for a job of work, taking into account all cost components such as labor, materials, plant, and on -costs (profit, overheads). It is essential both at the pre -contract stage and throughout constr uction, completion, and final account stages, because costs are constantly changing due to variations