Which method is NOT a type of construction cost estimation?

Cost-Benefit Analysis is not a type of construction cost estimation method. Instead, it serves as a decision-making tool used to evaluate the overall value or effectiveness of a project by comparing the costs involved with the anticipated benefits. This analysis helps stakeholders assess whether a project should be pursued based on potential returns versus expenses.

On the other hand, methods like Elemental, Volume, and Area estimation are specific techniques used to estimate the costs associated with construction projects. Elemental estimating breaks down projects into individual components or elements to calculate costs. Volume estimation is based on quantifying materials or work according to their volume. Area estimation relies on calculating costs based on the overall area of the construction involved. All these methods provide a more direct approach in forecasting project expenses, distinguishing them from the broader economic assessments conducted in cost-benefit analysis.