Estimating

If the control of cost for your projects is important to you, making sure your estimates are perfect should be one of your priorities. Because an estimate is the basis on which you are building your project. For this reason, Cost Engineering has always put an emphasis on making sure our estimates are always based on the best information we can get. Because that is the best way in which we can add value to your project.

Cost Engineering believes in a full life-cycle approach to estimating just as to all other parts of your projects. The main reason being, that a full life-cycle approach will make sure your project will not just be a success in one of its phases, but over its complete lifetime.

To make sure we can offer you the best solution to your Estimating questions, Cost Engineering can offer you all types of estimates.

Class 5 Order of magnitude estimate
A class five estimate is made when little information is available for your project. In-house data from Cost Engineerings' vast knowledgebases forms the basis for this type of estimate.

Class 4 Study estimate
This type of estimate is often referred to as a factor estimate. To make a factor estimate, it is vital that all process equipment is known and can be priced. A factor estimate is then created by using factors over the prices of process equipment to calculate all other costs involved in the project.

Class 3 Budget estimate
When engineering has completed between 1 and 10 percent of your project, a budget estimate can be made using the conceptual designs.

Class 2 Definitive estimate
When your conceptual designs have been completed and the equipment list has been made, a definitive estimate can be made. The engineering for your project will have to be completed for 25 to 50 percent to be able to make this kind of estimate.

Class 1 Detailed estimate
A detailed estimate shows requirements for material, labor, quantity takeoffs, construction equipment, and indirect cost items. This type of estimate can range from an entire project to specific project elements and can include change orders and claims.