Cost Estimates

Cost estimates will be used throughout the design and construction process.

During project planning, these estimates are calculated using data from comparable projects.  These early estimates will necessarily have a high degree of uncertainty, often +/-10% or more, which is covered by a contingency allowance in the project budget.  As design continues, and more information is available about the planned building, cost estimates get more and more precise, and contingency percentages will be reduced.

This post is also available in: French