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Provides increasingly detailed data needed to maintain cost control
throughout a project.
KWAME prepares budget estimates based on the construction techniques,
schedule decisions and any special project challenges. The conceptual
estimate compares historical cost data from similar projects and
our own experience to the owner’s initial budget, to determine
whether sufficient funds are available. More detailed cost estimates
are prepared at various stages of design and development. The final
estimate is used to monitor project costs throughout construction.
Typically, four estimates are provided:
- Conceptual Estimate – defines the project budget
and addresses any discrepancies.
- Schematic Design Estimate – defines building element
costs such as site work, foundations, HVAC and specialty items.
- Design Development Estimate – defines major elements
such as long-lead items and major equipment.
- Construction Documents Estimate – based on completed
working drawings and specifications, this estimate becomes the
basis for the computerized cost model monitored throughout construction.
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