This text comprehensively covers the fundamental cost estimating principles and processes used in commercial construction today. It covers theory, types of estimates, estimating procedures and contractual aspects as well as providing practical tips on how to estimate. Using a single case study, the book shows readers how to prepare their estimates and to develop the necessary skills needed to be successful in the construction industry. The text illustrates the process for developing three separate types of estimates: a budget estimate during design development, a guaranteed-maximum-price estimate for a cost-plus contract, and a bid for a lump-sum contract. The book also discusses analysis of subcontractor quotations as well as estimating job site general conditions and company overhead costs.