Project Estimate Clause Samples
A Project Estimate clause defines the anticipated costs, resources, and timeline required to complete a specific project. It typically outlines the basis for the estimate, including assumptions, methodologies, and any exclusions or limitations, and may specify how changes to the estimate are handled if project scope evolves. This clause helps set clear expectations between parties, reducing the risk of disputes over costs or deliverables by providing a transparent framework for budgeting and planning.
Project Estimate i. Review, refine, and update the Estimate of Probable Construction Costs as previously prepared and included as the OSLAD DOC 4 form and Development Budget.
ii. Availability and selection of materials iii. FSPD requested changes in the scope of the project.
iv. Regular cost updates and monitoring throughout the design development of the project.
Project Estimate. The project estimate is the summary of total costs for a project for all phases of project delivery. The costs are broken out into phases identified as Right of Way (ROW), Utilities, Design, Environmental and Miscellaneous (RUDEM). Additionally, the project estimate will include projected costs for construction of the project and the Construction Engineering (CE) and indirect costs. The ROW and utility phases may not be able to be estimated until after the Field Inspection Review (FIR) Plan level. Likely, the project will have a construction project budget already identified from the planning process. This is known as the “planning level estimate”. The planning level estimate is the total cost allocated to deliver the entire project, not just the construction phase. ROW $500,000.00 Utilities $10,000.00 Design $250,000.00 Environmental $20,000.00 Miscellaneous $ - Construction Contract $5,995,605.00 CE Base Rate 1.75% $104,923.09 CE DTP charges $400,000.00 Indirect rate 12% $719,472.60 Total $8,000,000.69 This planning level estimate is utilized until the preconstruction project development process has progressed to be able to assign pay items and quantities. No later than the Final Office Review (FOR) the pay items and quantities should be entered into AASHTOWare to develop the project estimate. Project estimates of construction costs should be adjusted as the scope is refined, as staffing costs are determined, and as project design progresses. The Project Manager (PM) should work with the Engineering Estimates & Market Analysis (EEMA) team beginning no later than the FOR to refine the construction project estimate. Project estimates should be recorded in a PMWeb Estimate Capture record at each major milestone or if the scope is changed significantly. Project Cost Planner Tool can be used to develop planning level estimates through the Field Inspection Review (FIR) level estimate. Creating an Estimate Capture Record Estimate Captures in PMWeb. Engineering Estimates & Market Analysis to request a construction project estimate. Business Center Engineering Estimates & Market Analysis has Cost Data Book, Item Code Book, and Construction Cost Index Data. Estimate Review by Engineering Estimates and Market Analysis (In “Section 2.27” of this manual).
Project Estimate. The preliminary estimates of construction costs for projects anticipated under this MSA range from $100,000-$30 Million per project. A/E Design services for certain specific projects, due to their specialized nature or size, will be procured through the use of Project Specific RFQs, without regard to the Master Service Agreements. Firms with an A/E MSA will not be precluded from pursuing these specialized or large projects in addition to the work that they may perform under the A/E MSA.
Project Estimate. (a) The District estimates that total cost and expense for the Road Project will be $29,935,000.00 (“Project Estimate”), which includes (i) all costs incurred to obtain Project Funding including legal fees charged to the District by the PCIB and bond counsel and the costs of issuance for the Bonds and securing the Loans, (ii) the cost of all engineering and design work for the Road Project, and (iii) the costs for all permitting, materials, labor, and construction required to complete the Road Project. The District shall maintain its records relating to costs and expenses associated with the Road Project consistent with general accounting principles. The District shall assume sole financial responsibility for all costs associated with the Road, whether more or less than the Project Estimate and the Company shall have no liability for any costs associated with the Road Project, Road construction or the Project Funding, except for the payments to the District expressly provided in this Agreement.
(b) If at any time during the Road Project, the actual costs incurred or to be incurred by the District for the Road Project are determined to exceed the Project Estimate by more than five percent (5%), the District shall provide written notice to the Company of the anticipated exceedance including an explanation of and estimate of the total excess costs over the Project Estimate. Notwithstanding anything provided herein, the Company shall not be required to repay the District through Annual Payments or otherwise for any exceedance above five percent (5%) of the Project Estimate unless and until the Company has expressly approved such exceedance in writing, which approval shall be made at the Company’s sole discretion, which may be withheld.
Project Estimate attached atas GMP Exhibit C;
Project Estimate. The ENGINEER will provide a project estimate summarizing all estimated construction costs.
Project Estimate. ▇▇▇▇ is unable to estimate the total hours needed to complete the projects outlined in Exhibit A.
Project Estimate. The fee to complete the scope of ▇▇▇▇▇▇▇▇'▇ work is .