Class B Construction Cost Estimate definition

Class B Construction Cost Estimate means an estimate of the Construction Cost in elemental cost analysis format based on design development drawings and outline specifications, which include the design of all major systems and subsystems, as well as the results of all site/installation investigations.
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Examples of Class B Construction Cost Estimate in a sentence

  • The Class B Construction Cost Estimate is typically prepared when all site or installation investigations are completed and the design of the major systems and sub-systems of the Project (including outline specifications and preliminary drawings and models) are well underway.

  • Class B Construction Cost Estimate shall be presented in elemental format and include labour and material costs, allowance for all costs resulting from the Project schedule, all actual associated costs, including cash allowances, contingencies, allowances for design, escalation, market conditions and anticipated amendment amounts as applicable.

  • The Class B Construction Cost Estimate is an estimate of the Construction Cost with a level of precision that is based on the degree of completion of the Contract Documents at the time of preparation of the estimate.