What type of estimating method would typically be used for a quick budget estimate?

The approximate method is typically used for quick budget estimates because it allows for a faster assessment of costs without the exhaustive detail required for more thorough estimating methods. This method often relies on historical data, analogous projects, or a general sense of the scope of work involved. By using this approach, estimators can quickly generate a ballpark figure to help stakeholders understand potential costs without getting into the specifics that a detailed method would require. This makes it particularly useful during the early stages of project planning when precise information may not be available, allowing for efficient decision-making and budget allocation.

The other methods, such as the detailed method, require comprehensive breakdowns and exact measurements, making them unsuitable for quick estimates. The unit price method uses specific costs assigned to units of work, which also demands more detailed information than is typically available for rapid estimates. Lastly, the time and materials method, which tracks labor and material costs, is generally used for situations where the scope may change and is not intended for quick budget estimates either.