What is the process of compiling all factors influencing the cost of a project called?

The process of compiling all factors influencing the cost of a project is known as estimating. Estimating involves assessing various elements that contribute to a project's overall expenses, such as materials, labor, overhead, and any potential risks. This step is crucial, as accurate estimates help in determining whether the project is viable financially and aid in the decision-making process regarding resource allocation and project scheduling.

In the context of construction and development, estimating provides a detailed forecast of costs, which is essential for preparing budgets and ensuring that clients are aware of anticipated expenses. This process not only includes the cost of direct materials and labor but also incorporates indirect costs and contingencies, making it a comprehensive analysis of potential financial commitments.

While planning involves outlining the steps to achieve project goals and budgeting refers to the allocation of financial resources to those plans, neither captures the specific focus on cost assessment that estimating entails. Researching could relate to gathering data on costs but does not succinctly define the structured process of calculating the total costs based on project specifics. Hence, estimating is the most accurate term to describe this critical aspect of project management in construction.