The most comprehensive book on the market that covers the fundamental cost estimating principles and processes used in commercial construction today. Using a single case study, the book shows readers how to prepare their estimates and to develop the necessary skills needed to be successful in the construction industry. It covers theory, types of estimates, estimating procedures and contractual aspects as well as providing practical tips on how to estimate. Specifically details the process for developing three separate types of estimates: a budget estimate during design development, a guaranteed-maximum-price estimate for a cost-plus contract, and a bid for a lump-sum contract. The book also discusses analysis of subcontractor quotations as well as estimating job site general conditions and company overhead costs; it even includes discussion of negotiated contracts. A comprehensive reference for construction professionals such as cost estimators and project managers.