Which estimating method is also known as the volume method?

The area method is referred to as the volume method because it estimates the cost of a project based on the overall area or volume of the building being constructed. This approach typically involves calculating the square footage or cubic volume of the building and then applying a cost per unit determined from similar projects or industry standards.

The key advantage of the area method is its simplicity and speed, making it useful during the initial phases of project development when detailed design information is not yet available. This method helps architects and estimators quickly gauge project feasibility and budget requirements based on the size of the proposed construction.

In contrast, other estimating methods like the assembly method focus on pricing specific components or assemblies of the building rather than overall dimensions. The project comparison method relies on comparing the costs of similar completed projects, and the market approach assesses property value based on market data, which emphasizes sales comparisons rather than volume or area calculations.