What term describes the time and effort associated with preparing an estimate for a project that is not awarded?

The term that best describes the time and effort associated with preparing an estimate for a project that is not awarded is "unrecoverable." This refers to the resources, including labor and materials, that a firm invests into preparing an estimate or proposal for a project that ultimately does not result in a contract. Since the project is not awarded, the costs incurred for preparing the estimate cannot be recouped or billed to the client, hence they are categorized as unrecoverable expenses.

In construction management and project estimating, it's important to understand the significance of unrecoverable efforts. Firms often allocate significant resources to bid on projects, and these resources represent a financial risk if the bid is unsuccessful. Recognizing this can help companies better manage their bidding strategies and evaluate the feasibility of pursuing specific project opportunities.

The other terms, such as billable and recoverable, imply that the time and costs can be directly charged to a client or project, which is not applicable in this case since the project was not awarded. "Accountable," while it could refer to being responsible for costs or estimates, does not specifically convey the financial aspect of having costs that cannot be recouped in the context of estimating unawarded projects.