Natural resources, such as wood, stone, and brick, are essential components of the building process. The availability of these resources can have a significant impact on construction estimates.
When natural resource availability is abundant, costs may be lower due to economies of scale in production and transportation.
On the other hand, when natural resource availability is limited or expensive due to shortages or rising prices for certain materials, this may lead to increased cost estimates and potential delays in completing projects. Cost Estimating Services must consider regional availability of materials when estimating project costs.
Additionally, natural resource availability can affect the types of materials used in construction projects. For example, if certain species of wood become more rare or expensive, builders may have to substitute alternative building materials such as steel or composite materials.
These changes could increase the cost estimates and are best accounted for in advance during the cost estimating process.Finally, a shortage of natural resources due to environmental degradation or other factors can lead to delays in completing construction projects due to lack of availability or difficulty obtaining certain materials.
This is another factor that Cost Estimating Services need to be aware of in order to provide accurate estimates for their clients’ projects.
