A summary of project risks and justifications for costs is essential for a comprehensive final estimate presentation because it provides stakeholders with critical insights into the potential challenges and uncertainties that may impact the project's budget and schedule. By outlining the identified risks, estimators can communicate how these factors have been considered in the cost calculations. This transparency builds trust and reinforces the credibility of the estimate, allowing decision-makers to understand not just what the costs are but why they are positioned that way.
Including risk assessments can help in anticipating future issues and facilitates proactive planning, ensuring that the project can adapt as necessary to mitigate these risks. Furthermore, justifying costs through this lens allows for better stakeholder engagement, as it contextualizes the numbers provided in the full estimate, making them more relevant and understandable.
While a detailed list of subcontractors, an overview of labor rates, and a comparison of competing estimates can provide helpful context, they do not directly address the inherent uncertainties of the project in the same way that a risk summary does. The focus on risks ensures that all parties are aware of potential pitfalls and the rationale behind budget allocations, making it a cornerstone of a thorough final estimate presentation.