Class 3 Estimate definition

Class 3 Estimate means an estimate with an expected accuracy within +30% to -20%.
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Class 3 Estimate means an estimate used to for budget authorization. The maturity level of the final overall design deliverables shall range from 10 percent to 40 percent. The typical costing methodology shall be semi-detailed unit costs with assembly level line items. The expected low to high variation in the accuracy range based on the complexity and remoteness of this Work shall be minus 20 percent to plus 30 percent with an 80 percent confidence interval;
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Class 3 Estimate means preliminary design, for budget authorization. The accuracy of the cost estimate shall be -20% to +30%;
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Examples of Class 3 Estimate in a sentence

  • This will be as part of the development of the AACE Class 3 Estimate for the solution recommended.

  • The Engineer shall provide updated total construction cost estimates with all design deliverables, specifically the 25 percent design or Basis of Design Report (ACEE Class 3 Estimate), the 50 percent (ACEE Class 2 Estimate), and 95 percent deliverables (Construction Bid Estimate).

  • The following key schedule milestones as provided by the consultant are as follows: 1 Consultant Class 5 Estimate2 Consultant Class 3 Estimate Detailed design and construction schedule for the main NEWPCC Upgrade Project will be provided upon project award to the Design Builder.

  • Cost Consultant Class 3 Estimate Risk (Update from last report) NEWPCC Upgrade: Power Supply and Headworks Facilities Power Supply Facility The Department continues to assess the impact of the risk associated with COVID-19 on the project.

  • Key schedule milestones for the NEWPCC Power Supply Upgrade project’s professional engineering services, as provided by the consultant, are as follows: 1 Consultant Class 5 Estimate2 Consultant Class 3 Estimate Detailed design and construction schedule for the NEWPCC Power Supply Upgrade Project will be provided upon project award to the Design Builder.

  • Due to the level of Scope and Technical Definition for this Pre-Authorization estimate (Limited-Fair) the Civil Works Estimate currently falls into a Class 3 Estimate, based on ER 1110-2-1302.

  • Include a cost estimate conforming to the American Association of Cost Engineering (AACE) International Recommended Practice No. 18R-97 - Class 3 Estimate with an accuracy of between -10% to +30%.

  • This may mean that teaching does not have a truly national, or even state-wide, labor market, and teachers may face constraints in their job search that are not fully captured by this model due to the fact that there is generally little data on the distance between a teacher’s home and prospective places of work.

  • This does not meet the requirement for an AACE Class 3 Estimate as outlined in the Commission’s 2015 Certificate of Public Convenience and Necessity Application Guidelines (CPCN Guidelines).PNG states that in order to facilitate the expeditious review process it has requested for this Application, a Class 3 estimate cannot be obtained in a timely manner.

  • The following key schedule milestones for the NEWPCC Upgrade project’s professional engineering services, as provided by the consultant are as follows: 1 Consultant Class 5 Estimate2 Consultant Class 3 Estimate More detail project schedule information will be developed upon the completion of the project preliminary design phase and will be updated in future reports.


More Definitions of Class 3 Estimate

Class 3 Estimate means an estimate for the design and construction of the Physical Facilities and WTP based on and meeting the “Class 3” requirements, as such requirements are described in the AACE Guide.
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Related to Class 3 Estimate

  • Cost Estimate means the detailed projected expenditure, including material costs and overhead, equipment costs and overhead, labor costs and overhead, and all taxes associated with each major material and service component, required for a line extension. It shall also separately identify any incremental costs associated with providing premium services. The Company may, for the purpose of standardization, establish standard construction cost estimates, for basic or premium service plans, which shall not exceed, in any event, the average cost of constructing such line extensions in the area involved, in which case the term “cost estimate” as used in this section will be understood to mean the standard estimate thus established.

  • Estimate means to be based on technical evaluation of the sources contributing to the discharge including, but not limited to, pump capabilities, water meters, and batch discharge volumes.