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Old 04-05-2017, 01:30 PM
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Tayken Tayken is offline
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Originally Posted by OrleansLawyer View Post
Do you mean the part where the Small Claims docket is filled with people suing their contractors for not doing the work? Or limited retainers?
A valid point though. In addition, most contractors work on a time-and-material basis even if they give you a single quote. This is why the fixed cost bids end up jamming the small claims docket.

There is no perfect estimation model even in the most standard of estimating systems like construction. All sorts of things will disrupt the fixed price. Weather, etc... So, with a fixed price you can be assured that the estimate has been padded significantly to cover costs. Good contractors do this but, charge much more.

A cheap lawyer, contractor, computer, etc... is just that... a cheap lawyer, contractor, computer etc...

If you want to blow your mind up check out this cost estimation model for the software industry: https://en.wikipedia.org/wiki/COCOMO
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