What method of determining cost adds estimates of material and labor costs to indirect costs?

The quantity survey method is a detailed and systematic approach to estimating the cost of a construction project. This method involves the meticulous breakdown of all aspects of construction, including direct costs such as materials and labor, as well as indirect costs, which may cover overhead, administrative costs, and contingencies. By examining each component of the project individually, this method provides a comprehensive and precise estimate.

This approach contrasts with other methods that may use more generalized calculations. For instance, the chapter in place method tends to focus on typical costs associated with different types of construction chapters rather than a full breakdown. The square foot cost method provides a broad estimate based on the area of the building but does not account for the specific details of materials and labor. The reproduction cost method is concerned more with the cost to recreate an identical structure rather than a detailed cost analysis.

In summary, the quantity survey method is optimal for generating in-depth and accurate cost estimates because it encompasses a thorough analysis of all costs involved in a construction project, thereby ensuring that both material, labor, and indirect costs are adequately considered.