What information is typically included in an estimation report?

An estimation report is a critical document in the construction industry that provides a comprehensive overview of the anticipated costs associated with a project. The correct choice emphasizes the inclusion of a summary of costs and itemized quantities. This is essential because it not only outlines the overall budget that stakeholders can expect but also breaks down the costs into specific items and quantities, allowing for a detailed understanding of where resources will be allocated.

Itemized quantities serve to clarify the scope of work and provide transparency, helping to ensure that all parties have a mutual understanding of the project requirements. Summarizing costs offers a quick reference point for decision-makers and aids in financial planning and budgeting, facilitating communication among contractors, clients, and other stakeholders involved in the construction process.

The other options lack essential components that are typically required for comprehensive project estimations. Simply focusing on labor costs and hourly rates does not provide a holistic view of the project’s financial requirements. A legal analysis of the project contract is important but not a part of the estimation report. Lastly, including statistical data unrelated to project costs would detract from the report’s purpose, which is to provide pertinent financial information that is directly related to the project at hand.