Definitive Cost Estimates

This Class of estimate provides the detailed target for construction cost control. Labour work units, derived from the control estimate are applied to labour activities in the detailed construction schedule, thus defining the manpower requirements for the construction effort. The accuracy of this Class of estimate is normally between 10% lower and 10% higher than the base estimate.

Basis of Estimate (Accuracy 5-10%)

This Class of control estimate is made after the review and approval of P & ID's, flow sheets, block plans, specifications, equipment layouts, building configurations and site improvements. Essentially, the scope of work and project plans are sufficiently developed so that any change in the flow sheets, materials of construction, site improvements, building configurations, equipment count, size or performance, and so on would constitute a change to the scope of work.