Schematic Design Estimate definition

Schematic Design Estimate means the estimated budget attached hereto as Exhibit D and setting forth the costs of each component of the Core and Shell as depicted in the Schematic Design Plans on a line item basis, including an appropriate contingency and inflation factor for each line item, with each line item allocated between NYTC Member and FC Member in accordance with the Allocation Methodology.
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Schematic Design Estimate is a preliminary estimate of the Project costs used to assist in keeping the Project on budget and given to the City upon completion of the schematic design in the Design Development Stage. Once the City accepts this estimate, it becomes the Accepted Cost Projection;
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Examples of Schematic Design Estimate in a sentence

  • These estimates shall be performed at the completion of the Program Verification Phase and shall be called the Program Estimate, followed by a Schematic Design Estimate, which shall be followed by the Design Development Estimate, which shall be followed by the guaranteed maximum price proposal.

  • The A/E shall provide a Schematic Design Estimate in Cost Model format at the conclusion of the Schematic Design phase.

  • The Program Verification Phase, Program Estimate, Schematic Design Estimate, and Design Development Estimate shall have the meanings ascribed to them in the Design Agreement.

  • These estimates shall be performed at the completion of the Program Verification Phase and shall be called the Program Estimate, followed by a Schematic Design Estimate, which shall be followed by the Design Development Estimate, which shall be followed by a 50% Construction Document Estimate, which shall be followed by the setting of the GMP.

  • This Schematic Design Estimate shall be accompanied by a report to HISD identifying variances with the original budget and making recommendations for appropriate corrective action, if required.

  • These estimates shall be performed at the completion of the CM Selection Phase and shall be called the Program Estimate, followed by a Schematic Design Estimate, which shall be followed by the Design Development Estimate, which shall be followed by a 50% Construction Document Estimate, which shall be followed by the setting of the GMP.

  • This Schematic Design Estimate shall be accompanied by a report to IISD identifying variances with the original budget and making recommendations for appropriate corrective action, if required.

  • The Construction Cost Estimator shall develop the Schematic Design Estimate for the Project with oversight by the School District.

  • These estimates shall be performed at the completion of each design deliverable, typically the Program Verification Phase and shall be called the Program Estimate, followed by a Schematic Design Estimate, which shall be followed by the Design Development Estimate, which shall be followed by a 50% Construction Document Estimate, which shall be followed by the setting of the GMP.

  • Construction Project Manager will provide a Schematic Design Estimate in Cost Model format at the conclusion of the Schematic Design phase.