Target Cost Estimate definition

Target Cost Estimate or "TCE" means the target cost estimate prepared by the Participants as part of the Project Proposal, as adjusted (if at all) by the ALT in accordance with this Agreement as a sufficient estimate of costs to achieve the Minimum Conditions of Satisfaction and Final Completion including all Reimbursable Costs and Fee and necessary contingencies required to perform the Alliance Activities.
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Target Cost Estimate or "TCE" means the target cost estimate prepared by the Participants as part of the Project Proposal, as adjusted (if at all) by the ALT in accordance with this Agreement as a sufficient estimate of costs to achieve the Minimum Conditions of Satisfaction and Final Completion including all Direct Costs and Fee (as defined in the Commercial Framework) and necessary contingencies required to perform the Alliance Activities.
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Examples of Target Cost Estimate in a sentence

  • The Project objectives are to design and construct the facilities called for in the Owner's Program, within the Project Target Cost Estimate and the Schedule developed under the Agreement.

  • Unless the Parties mutually agree otherwise, the Project Target Cost Estimate shall be the sum of: The Owner's own Project design and construction-related costs, as agreed upon by the Parties; The Designer's total costs for Project design and design implementation; The Constructor's construction costs, including: the estimated Cost of the Work A Construction Phase Contingency to cover costs which are properly reimbursable as a Cost of the Work but are not the basis for a Change Order.

  • PROJECT TARGET COST ESTIMATE PROJECT TARGET COST ESTIMATE At such time as the Management Group determines that the project design is sufficiently complete, the Owner, Designer and Constructor shall jointly develop a Project Target Cost Estimate (PTCE) in a format acceptable to the Management Group.