Probable Cost Estimate definition

Probable Cost Estimate is the Purchasing Entity's estimate of what it will cost for the Offeror to complete the contract based on the Purchasing Entity's evaluation of the offeror's technical proposal and proposed costs. This estimate is complimentary with and must be performed in conjunction with all cost realism analyses and is a principal product of the Purchasing Entity in the source selection evaluation process. Cost Realism services shall include, but are not limited to: • Determining the Offeror’s price is realistic for the work proposed • Understanding and implementation of contract risk factors • Developing a Purchasing Entity’s probable cost estimate • Conducting cost to technical realism analysis Outputs: Cost realism analyses.
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Examples of Probable Cost Estimate in a sentence

  • Probable Cost Estimate: An estimate of the costs to construct the facility including all of the structure.

  • Probable Cost Estimate: is the Purchasing Entity's estimate of what it will cost for the Offeror to complete the contract based on the Purchasing Entity's evaluation of the offeror's technical proposal and proposed costs.

  • Combined with the military records of Ukraine on the use of artillery, and the possibility of contacting the families of casualties, morgues, hospitals or other sources for verification, it is possible for the Government to assess the damage caused by its use of artillery.

  • Most Probable Cost Estimate When developing a most probable cost estimate, consider the following points.

  • Document, Ives Resident Condition Assessment, Exterior Rehabilitation Probable Cost Estimate, copy of facsimile, with handwritten notations, undated (facsimile received 4 January 1996), 1 page.

  • Wickepin Caravan Park Redevelopment - Extract of Report – Opinion of Probable Cost Estimate 2022 A discussion was held with ORA on next steps.

  • All professionals attending the meeting start by sharing information about the concernsagency.

  • The difference between the bid evaluation amount and the Construction Documents Probable Cost Estimate is $298,949.

  • An Engineer’s Probable Cost Estimate or the contractor's contract quantity costs shall accompany the bond confirming the bond amount.

  • The collected data was analyzed and presented in the tabular form.

Related to Probable Cost Estimate

  • Reasonable Costs means the reasonable actual costs and expenses incurred by us in carrying out any further Audit under this Contract, including, but not limited to, reasonable travel and subsistence costs;

  • Allowable Costs means the costs defined as allowable in 42 CFR, Chapter IV, Part 413, as amended to October 1, 2007, except for the purposes of calculating direct medical education costs, where only the reported costs of the interns and residents are allowed. Further, costs are allowable only to the extent that they relate to patient care; are reasonable, ordinary, and necessary; and are not in excess of what a prudent and cost-conscious buyer would pay for the given service or item.

  • Operating Costs means the incremental expenses incurred by the Recipient on account of Project implementation, management, and monitoring, including for office space rental, utilities, and supplies, bank charges, communications, vehicle operation, maintenance, and insurance, building and equipment maintenance, advertising expenses, travel and supervision, salaries of contractual and temporary staff, but excluding salaries, fees, honoraria, and bonuses of members of the Recipient’s civil service.