From Theory to Practice: Logistics Students Learn the Basics of Construction Cost Estimation
On October 8, third-year students majoring in Logistics at the Faculty of Economics and Management of the Turkmen State Institute of Architecture and Construction held a practical session aimed at reinforcing their theoretical knowledge. The main goal was to become familiar with the specifics of the construction industry, including the structure of foundations and the role of cost estimation.
During the session, it was emphasized that the cost estimate is one of the most important tools in construction. It helps solve the following key tasks:
• Planning and justification: Comparing design solutions, substantiating the choice of location and feasibility of construction, as well as planning investments.
• Contractual relations: The cost estimate serves as a basis for signing contracts between the contractor and the main construction organization, agreeing on prices, and forming work schedules.
• Efficiency analysis: Based on the estimate, labor costs, planned and actual profits of the enterprise are determined, allowing for production and economic analysis of its performance.
Thus, for future logistics specialists, understanding cost estimation is critically important for effective project management in the construction sector.
In the context of developing the country’s educational and scientific base, it was noted that the construction and commissioning of the new complex of buildings of the Institute of Architecture and Construction — equipped with advanced innovative technologies — will give a powerful impetus to scientific activity.
Scientific and innovative research conducted in the new laboratories will play a significant role in strengthening the digital foundations of Turkmenistan’s economy through the creative and technological contributions of students, lecturers, and scientists.
ORIENT
