Basis of Estimates

Cost estimates at all phases of work are based on measurements from current plans, specifications, other information that is presented to the estimator, and the assumptions that an experienced estimator will make for work that is not shown or covered by the current documents. 

Pricing of the quantity survey items is the probable construction costs for the date and locality of the project. Pricing assumes open shop competitive bidding of all items of work. Our experience is that the more qualified competitive bids that are received the more competitive the final bids will be.

Our probable construction cost is based on our professional experience in the construction industry. We have no control over actual costs, inclusion of all scope items in bids, or the competitive nature of the market at the time of the bid.

Phasing of Estimates

Program Budget

At the program stage of a project a Program Budget may be performed. This budget is based on the square footage of programmed spaces and level of finishes per the program.

Early Schematic Design Budget

Once the design team has defined the overall design and prepared early floor plans with preliminary elevations an Early Schematic Design Budget may be performed. This budget takes into account the proposed floor plans and building elevations by establishing costs based on building square footage, building exterior details, vertical transportation and possibly mechanical and electrical system types/sizes.

Schematic Design Cost Estimate

This estimate is completed in a detailed format, using formalized drawings and outline specifications. This estimate confirms the assumptions that were made in the early budgets and allows the design team to react early in the design process to any possible budget constraints that may exist. Building systems, structural, mechanical, electrical are evaluated during the schematic design.

Design Development Cost Estimates

With more information and details shown on the drawings the estimator is able to further define the costs in a more detailed fashion. Again this estimate confirms any assumptions that were made earlier and allows the design team the opportunity to evaluate different finish materials that may be used in the project. This detailed cost estimate produces and understanding of what to expect as a probable construction hard cost for the specified construction time frame.  

Contract Document Cost Estimates

This detailed cost estimate based on the construction drawings and specifications is expected to produce an estimate that represents the fair market value of construction costs at this time.