Accurate capital cost estimation is essential not only as an initial phase in project development but also as the foundation for strategic budgeting and financial planning. By offering a detailed projection of anticipated expenses, these estimates ensure that budgets are both realistic and thorough, covering all aspects of project execution from start to finish. This precision is vital for aligning project objectives with available financial resources, avoiding cost overruns, and securing necessary funding. Without precise capital estimates, projects are vulnerable to financial shortfalls that can cause delays, reduce quality, or even bring the project to a complete stop.
