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Milestone cost estimates at various stages of the process are critical components of the cost management activity. Risk Assessment and Management are important as identi ed risks on construction projects are typically nancial in nature. Therefore early in the project an assessment of risk is crucial to establish the budget parameters within which the project must be completed. The calculation of project contingencies should be based on an assessment of the risk surrounding the project (site issues, availability of bidders, method of procurement, and critically the market conditions in the location of the project. As risks are mitigated then contingencies can be reduced and the range of estimated nal cost narrowed. The rm charged with managing the costs of the project should ideally be hired directly by the owner, early in the process, and should be independent of both the architect/ engineer and the construction contractor. Throughout a project’s planning, design, and construction phases, Cost Management is employed as a means of balancing a project’s scope and expectations of quality and budget. The book text details procedures that emphasize the correct quantication and planning of works, resulting in reliable cost and time predictions. This book is a reference tool to design and cost management in civil engineering. This book is an ideal textbook for undergraduate civil engineering and quantity surveying students, as well as postgraduate civil engineering management students.