Once you have expanded your knowledge by reviewing the above, do some of your research and see if you cannot tie out the above with the concept of a basis of estimate!
For your discussions, let’s discuss contractor estimating and contract auditing. Review resources online and discuss these questions.
What is the basis of estimate (BOE)?
What do you think makes up a good BOE? Why are they important?
How are cost captured in contractor proposals, i.e., indirect versus direct cost?
What is the difference between cost and price?
Who do you think has input/estimates of contractor proposals?

How does a contractor do estimating