What is one of the four methods of cost estimation?

One of the four methods of cost estimation is the quantity survey. This method involves a detailed assessment of the quantities of various materials and labor necessary to complete a project, allowing for a comprehensive estimation of its costs. The quantity survey technique typically includes creating a bill of quantities, which details the physical items and their respective amounts needed for construction. This provides a foundation for accurate budgeting and financial planning, ensuring that all necessary resources are accounted for in the cost estimation process. By focusing on the specifics of quantities and unit costs, this method contributes to a precise overall estimate of project expenses.