Class D Construction Cost Estimate provides an indication of the cost of the work, based on the user’s functional requirements to the degree known at the time. It shall be as a minimum be based on historical cost data for similar work, suitably adjusted for such factors as the effect of inflation, location, risk, quality, size, and time. All related factors affecting cost are considered to the extent possible. This estimate provides an indication of the order of magnitude of the work cost and estimated completion date. The expected accuracy is within 25%.
