Which of the following is NOT a major item to consider when estimating a project?

When estimating a project, several major items play critical roles in determining the overall cost and feasibility. Labor, insurance, and equipment are key components because they directly affect the project's budget and execution.

Labor is essential as it encompasses the wages for the workforce involved in the project, which can significantly influence overall costs. Insurance is also a major item since it protects against risks associated with the project, including liability claims and property damage, which can lead to substantial financial implications if not accounted for. Equipment is another primary consideration, as the cost of purchasing or renting tools and machinery necessary for the project's completion can vary greatly and impact the total financial outlay.

Overtime rates, while important, are more of a secondary consideration that can vary depending on the project's timeline and scheduling. They typically come into play once the primary costs (like regular labor, insurance, and equipment) have been addressed. Therefore, while overtime may affect the overall expenses if the project timeline extends, it is not considered a major item during the initial estimation phase. Instead, it is an aspect that is calculated and adjusted based on the project's specific needs and developments. This contextual understanding clarifies why overtime rates are less critical compared to the other factors, which are foundational to project estimation.