Common use of Cost Estimating Clause in Contracts

Cost Estimating. 3.7.1. Contractor shall provide one estimate for each design Phase as follows: 3.7.1.1. Phase II Schematic Design 3.7.1.2. Phase III Design Development 3.7.1.3. Phase IV 50% Construction Documents 3.7.1.4. Phase V 100% Construction Documents phases 3.7.2. Preparation of Construction Cost Estimates: 3.7.2.1. Contractor shall estimate the cost of the major elements and subcomponents of the Project. The purpose of these Construction Cost Estimates is to verify the owner’s ability to complete the project within the established estimated GMP. The cost information derived from these estimates shall directly relate to Contractor’s recommendations in the Constructability Reviews and (if authorized by Contract Administrator) Value Engineering Report(s) relative to ways to reduce or control costs. 3.7.2.2. All estimates shall be structured to indicate County’s Guaranteed Maximum Price as comprised of the following price elements:

Cost Estimating. 3.7.1. Contractor shall provide one estimate for each design Phase as follows: 3.7.1.1. Phase II Schematic Design 3.7.1.2. Phase III Design Development 3.7.1.3. Phase IV 50% Construction Documents 3.7.1.4. Phase V 100% Construction Documents phases 3.7.2. Preparation of Construction Cost Estimates: 3.7.2.1. Contractor shall estimate the cost of the major elements and subcomponents of the Project. The purpose of these Construction Cost Estimates is to verify the owner’s ability to complete the project within the established estimated GMP. The cost information derived from these estimates shall directly relate to Contractor’s recommendations in the Constructability Reviews and (if authorized by Contract Administrator) Value Engineering Report(s) relative to ways to reduce or and/or control costs. 3.7.2.2. All estimates shall be structured to indicate County’s Guaranteed Maximum Price as comprised of the following price elements: