Estimated Project Construction Cost Sample Clauses
The Estimated Project Construction Cost clause defines the anticipated total cost required to complete a construction project. It typically outlines the basis for the estimate, such as preliminary designs or contractor bids, and may specify what expenses are included or excluded, like materials, labor, or contingencies. This clause helps set financial expectations for all parties and serves as a reference point for budgeting, planning, and managing potential cost overruns during the project.
Estimated Project Construction Cost. The term “Estimated Project Construction Cost” shall mean Design Professional's written estimate in the form specified by University (Exhibit C), of the total Construction Cost of the Project at the various stages of the design process.
Estimated Project Construction Cost. Design Professional shall update the estimate at the time of each submittal to include all construction components including quantities of materials and unit costs. The estimated costs shall be based on the latest documents submitted to the University.
Estimated Project Construction Cost. [Schematic/Preliminary Design Phase, Construction Document Phase as appropriate]: The estimate, including the "Major Categories of Work," adjusted to reflect the agreement ENR CCCI of the projected cost of the construction work represented by the Construction Documents.
Estimated Project Construction Cost. 2.3.1 For the first Schematic Design submittal, Design Professional shall update the Project Program cost model by changing, adding and/or deleting cost items and adjusting control quantities.
2.3.2 Design Professional shall provide an estimated project construction cost based on the 95% Schematic Design submittal documents using the estimate format as described in the Cost Estimate Format in the Exhibits. Design Professional shall compare the estimate with the Construction Budget and bring any unusual cost items to the attention of the University’s Designated Administrator.
Estimated Project Construction Cost. The Design Consultant shall submit a preliminary written Estimated Project Construction Cost based on the documents submitted and Approved by the City in this Phase. If the preliminary Estimated Project Construction Cost exceeds the Construction Budget, the City may, at its discretion, do either one or a combination of the following:
(i) Give written Approval of an increase in the Construction Budget.
(ii) Require the Design Consultant, at its own cost, and without reimbursement by the City, to revise the Schematic Phase documents in cooperation with the City so as to reduce the Estimated Project Construction Cost to an amount that is within the Construction Budget. To the extent the City selects the latter option, the City agrees to accept the Design Consultant’s reasonable revisions in the Project to lower the Estimated Project Construction Cost, so long as the proposed revisions are consistent with Project Program and do not, in the City’s sole discretion, materially compromise the aesthetic, structural or functional elements of the Project.
Estimated Project Construction Cost. The estimated Construction Cost shall be prepared and updated by the Construction Manager as required by this Agreement. The estimated Construction Cost shall under no circumstances exceed the Construction Budget, including a reasonable allowance built in for estimating design contingency. The Construction Manager shall, at no additional cost to the District, incorporate any and all revisions needed to the preliminary studies, schematic drawings, site utilization plans and Construction Documents if at any time Construction Manager becomes aware that the estimated Construction Cost, as recalculated, will exceed the Construction Budget; provided that this limitation shall not apply to unanticipated cost increases beyond the reasonable control of Construction Manager.
9.1 SCHEDULE
Estimated Project Construction Cost. Design Professional shall update the estimate at the time of each submittal to include all construction components including quantities of materials and unit costs.
Estimated Project Construction Cost. The Design Consultant’s written estimates of the Construction Costs..
Estimated Project Construction Cost. Provide an estimate of the total construction cost of the project. Estimates for building projects shall be arranged in CSI Uniformat format (a building systems organization format) detailed to Level 2. This cost information shall also be summarized in a 2-7 format.
.1 Provide a written narrative explaining in detail any deviation from the initial project budget.
.2 Bring any unusual cost item to the attention of university's project administrator.
Estimated Project Construction Cost. The Design Consultant shall submit a preliminary written Estimated Project Construction Cost for the Project based on the Schematic Phase Design Documents submitted to the District for review and approval. The estimate shall address separately site work with utilities and building structures. The site work utilities estimate shall be itemized into major cost components. The building structure estimate shall be based on square foot cost reflective of the type of structure and systems involved. If the preliminary Estimated Project Construction Cost for the Project exceeds the Project Construction Budget for such Project, the District may, at its sole discretion and without limitation to any of the District’s other rights or remedies for default that may exist at law or under this Agreement, either: (i) give written approval of an adjustment in the Project Construction Budget, or (ii) require the Design Consultant, at its own cost and without additional compensation or reimbursement by District, to revise the Schematic Design Documents in cooperation with the District so as to revise the Estimated Project Construction Cost to an amount that is within the Project Construction Budget, in which case the District agrees to accept the Design Consultant's reasonable revisions in the Project to lower the Estimated Project Construction Cost so long as the proposed revisions do not, in the District's sole and reasonable judgment, materially compromise the objectives of the Project.