From whose perspective is cost considered holistic, encompassing various factors like supervision and overhead?

Cost is considered holistic from the owner's perspective because owners must account for all aspects that contribute to the total cost of a project. This includes direct costs such as materials and labor, as well as indirect costs like supervision, overhead, financing, and contingency allowances. Since owners are ultimately responsible for the financial outcome of their projects, their consideration of cost must incorporate a broad range of factors that impact overall project expenses.

In contrast, other stakeholders, such as contractors, suppliers, and subcontractors, typically focus on more specific costs directly related to their roles. Contractors may concentrate on labor and material costs, suppliers focus on the cost of goods provided, and subcontractors assess costs related to their specific tasks. As a result, their perspective on cost is often not as comprehensive as that of the owner, who must ensure that all costs are managed within the confines of the overall project budget to achieve financial viability.