A contractor should do all of the following when estimating a project EXCEPT

In project estimation, it is crucial for a contractor to realistically assess various factors that could impact the project's success. Identifying risks is fundamental because it allows the contractor to anticipate potential issues that may arise during construction. This proactive approach enables the contractor to create strategies to mitigate these risks, thereby ensuring smoother project execution.

Predicting the likelihood of an unwanted outcome is also an essential part of the estimation process. By understanding how likely certain risks are to occur, a contractor can better prepare and allocate resources effectively to manage those risks. This predictive element helps in creating a more accurate project timeline and budget.

Additionally, placing a dollar amount on risks is vital in developing a comprehensive budget. By quantifying potential financial impacts, a contractor can incorporate these figures into the overall project costs. This monetary assessment informs stakeholders about the potential financial exposure and helps in making informed decisions.

However, assuming ideal conditions disregards the inherent uncertainties in construction projects. Estimating based on unrealistic conditions can lead to underestimating costs and timelines, ultimately resulting in budget overruns and project delays. It's important for contractors to account for real-world variations and challenges rather than operate under the notion that everything will go perfectly. This ensures that the estimates are grounded in reality, leading to more successful project