Which method for estimating costs is considered the most accurate?

The Quantity Survey Method is regarded as the most accurate method for estimating costs because it involves a detailed analysis of every component of a project. This approach requires a comprehensive inventory of materials, labor, and overhead costs associated with each aspect of construction. By meticulously evaluating each element individually, this method ensures a high level of precision and accounts for current market conditions, labor rates, and material costs.

This thoroughness allows appraisers and assessors to provide very precise estimates reflective of the specific project being analyzed, making it particularly useful for complex or significant undertakings where accuracy is critical. The method provides a granular view of costs, which can help highlight potential variations in expenses that might otherwise be overlooked in less detailed estimation approaches.

Other methods, while useful in certain contexts, do not provide the same level of detailed analysis and may rely on broader averages or historical data, which can introduce variability and reduce their accuracy compared to the Quantity Survey Method.