Construction Budgeting

Creating accurate comprehensive budgets is at the heart of what we do.  The construction budget encompasses every cost essential for the realization of the project, and as such provides the project stakeholders with the maximum financial boundaries for the project.  We start every relationship with our clients with detailed conversations regarding the realistic actual anticipated costs that will be incorporated into their potential project, and provide detailed support for these costs.  Because we are builders, we are able to provide actual up-to-date real-world cost data.  And because we are construction cost managers, we are able to offer complete cost transparency when we are employed as builders.

Our Cost Estimates

We typically use the MasterFormat® (2017 48 division format) common Class D through Class A classification method to align the projected accuracy of a cost estimate with the project phase, described as follows:

  • Class D Cost Estimate
    • Prepared prior to commencement of the design; a rough order of magnitude; uses information and historic data
    • Estimating range ±20% and ±30%
  • Class C Cost Estimate
    • Prepared at an early stage in the project design, when drawings are preliminary in nature, based on type of construction and quantities of materials
    • Estimating range ±15% and ±20%
  • Class B Cost Estimate
    • Prepared at the design development phase, repeating the estimating process when additional specification and drawing information becomes available - expanding and providing more detail to the cost estimate
    • Estimating range ±10% and ±15%
  • Class A Cost Estimate
    • Prepared near or at completion of the construction document phase, repeating the estimating process to provide even more detail and accuracy to the cost estimate
    • Estimating range ±5% and ±10%

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