A method of estimating project costs is disclosed. Geometric information
is extracted from a design plan for the project and a cost estimate for
the project is automatically generated using the geometric information
extracted from the design plan and a computerized cost data store that
contains cost estimates for the extracted geometric information. Either
during the project, or after the project has been completed, actual cost
data relating to the geometric information is electronically received and
this actual cost data is used to update the computerized cost data store.