The process of determining the monetary value of a claim, agreement, or obligation is crucial in various fields. For example, in construction, it involves quantifying the financial implications of project changes or delays. This quantification often requires detailed analysis of contracts, schedules, resource costs, and potential legal ramifications.
Accurate and timely quantification provides a basis for fair negotiation and dispute resolution. Historically, this process relied on manual calculations and estimations, often leading to delays and disagreements. Modern techniques leverage specialized software and data analysis to enhance accuracy and efficiency, minimizing potential conflicts and fostering trust among stakeholders. This contributes to improved project management and financial forecasting.