Each weekly discussion is worth five percent of your grade. I highly encourage everyone to participate with multiple posts, and learn from this exercise as we proceed through the term. It is important to select a well thought-out response, backed by relevant and fact-based analysis Good luck and let see some good dialogue!
The Importance of Effective Cost Estimates
Explain how a cohesive construction project team led an experienced project manager, in cooperation with a specialized A/E firm (Architectural & Engineering), would use cost estimates in each capacity of design, pre-construction services and operations. 
Specifically, I want to know what cost estimates are, and how they are used in business…..Why they are important to the firm, and how a manager best utilizes them in the construction process. Try to back up your explanations of the cost estimate with an example of how companies use these estimates in real life and why they are relevant to a savvy project manager.