estimating-mit.pptVIP

Project Management Phase Estimation Levels - Introduction Different types of estimates are required as a project evolves Conceptual Preliminary Estimates Prepared early in the project prior to engineering design completion e.g., to tell Owner whether the contemplated project scope is feasible Incorporate new information from design to obtain an updated estimate of the project Detailed Estimates Prepared from completed plans and specifications Definitive Estimates Forecast the project cost within allowable limits from a combination of conceptual and detailed information often including parti