Final answer:
The resource enumeration approach for cost estimating allows for a tailored estimation of resources, promoting accuracy and project specificity. It utilizes mathematical models to assist in estimating costs and considers alternative measures to provide insight into all components of total costs.
Step-by-step explanation:
True, the resource enumeration approach for cost estimating does have the advantage over unit pricing in that it allows the estimator to tailor the resource set or crew specifically for the work in question. This approach deeply considers the math connection by using mathematical models to generate rough cost estimates for different approaches during the design process. These models are essential in predicting costs for various alternatives that may arise during the idea generation phase and help understand the relationship between the science behind a technique and the cost of implementing it, including materials, fabrication, manufacturing, operation, and maintenance costs.
Additionally, lessons from alternative measures of costs suggest the value in breaking down total costs into fixed costs, marginal costs, average total costs, and average variable costs. Each of these statistics offers different insights that are valuable to the firm. Through the process of enumeration, parts that compose the whole are clearly identified, providing a detailed view of what constitutes the total costs, which can then be normalized or adjusted for comparison with other options in terms of cost efficiency, for example, cost per thousand gallons of water.
Therefore, this customized approach to estimating costs is beneficial as it takes into account the nuances of the project, allowing for more accurate and tailored estimations. It also encourages a comprehensive understanding of the costs involved, augmenting the skill of estimation by recognizing the tendency to rely on initial values for future estimations.