Basis for Estimate Sample Clauses
The "Basis for Estimate" clause defines the underlying assumptions, data, and methodologies used to prepare a cost or time estimate for a project or contract. It typically outlines the scope of work considered, any exclusions or special conditions, and the sources of pricing or productivity rates. By clearly documenting these foundational elements, the clause ensures transparency and helps prevent disputes by making it clear what the estimate covers and under what conditions it was prepared.
Basis for Estimate. The Basis for Estimate is a statement explaining the methods used to compute estimated costs and time associated with a contract change. A Basis for Estimate could be but is not limited to: • Review of historical bid prices. • Review of area and/or regional averages. • Review of recent winning bids on a Department contract. • Overrun at a unit price included in the original contract. • The documented actual costs of the Contractor. • Using the resource approach, a detailed estimate of the quantities and unit costs of the manpower, material and equipment resources required.
Basis for Estimate. The Basis for Estimate is a statement explaining the methods used to compute estimated costs and time associated with a contract change. A Basis for Estimate could be but is not limited to: