For what purpose is an estimate primarily used in construction projects?

An estimate in construction projects is primarily utilized to establish the total cost. This is a critical component of project planning and financial management because it allows stakeholders to understand the financial resources required to complete the project. Accurate cost estimation helps in budgeting, funding acquisition, and cost control throughout the project lifecycle.

Having a clear understanding of the total cost facilitates better decision-making regarding resources, timelines, and project scope. Furthermore, it contributes to financial transparency and can affect the bidding process, as contractors and clients rely on these estimates to negotiate terms and ensure the project stays within budgetary constraints.

While the other options touch on important aspects of project management—such as duration and feasibility assessments—they do not represent the primary function of an estimate. The primary purpose remains rooted in calculating and conveying the financial requirements for a successful construction project.