quote:
"If I remember correctly, this is a simplification of a Monte Carlo method of probability."
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Bren,
Many EC's try to use a sq ft method, for bidding production work, and if the job has been estimated using take-off sheets, from a set of plans, and all material costs are known, along with a list of actuals for labor, then they stand a pretty good chance of developing a job for profit.
After all the cost are known, add your profit, then take that figure and develop a sq ft price, if that price is to high for the GC, then maybe you are the winner, because most GC's we did production work for never paid anyway.
