How is a detailed construction cost estimate prepared?

Detailed estimate process: (1) Review drawings and specifications thoroughly, (2) Perform quantity takeoff - measure all work items from drawings, (3) Price labor - crew composition, productivity rates, wage rates, (4) Price materials - quantities with waste allowance, unit costs with delivery, (5) Price equipment - hours needed, hourly rates (ownership or rental), (6) Obtain subcontractor quotes for specialized work, (7) Add site overhead - supervision, temporary facilities, insurance, (8) Add home office overhead percentage, (9) Add profit margin, (10) Include contingency for unknowns. Document assumptions and exclusions.