What is a key benefit of engaging stakeholders in the estimation process?

Engaging stakeholders in the estimation process is essential because they bring a wealth of insights that can significantly enhance the accuracy of cost estimations and ensure that the project meets the expectations of all parties involved. Stakeholders, which may include clients, contractors, project managers, and community members, often have unique perspectives and access to specific information that can inform the estimation of materials, labor, and overall project scope.

By involving these diverse voices early in the process, the estimator can gather valuable input regarding risks, constraints, and preferences that might not be immediately apparent to the project team. This collaborative approach not only aids in creating a more realistic and comprehensive budget but also helps align the project's goals with the interests and needs of stakeholders, leading to increased satisfaction and support during the project lifespan.