The Preliminary 35% and 60% Submissions Cost Estimates and the Draft and Final Design/Build Submissions
Cost Estimates shall be prepared in as much detail as possible. Although the detailed system estimate may lack
full definition at this stage, there should be a fully developed listing of the major assemblies of the project
complete with unit costs. It is recognized that this estimate is based on preliminary drawings and quotes and that
revisions to the cost are likely as the project drawings and specifications are further developed.
The 100% Submission Cost Estimate shall be developed from complete drawings and specifications. The
estimate shall be based on a fully detailed and accurate quantity takeoff with current unit prices. The A/E shall
provide a brief narrative description of how the Cost Estimate was developed and what sources of pricing data
were used in the estimate. The A/E shall provide specific rationale for factors that have a significant impact on
the Cost Estimate (i.e. local market conditions, project size, complexity, etc.).
The Final Cost Estimate should normally require only minor revisions to the 100% Cost Estimate. The estimate
should reflect any final adjustments in the project cost to assure the estimate is in line with the market conditions
expected at the bid date and incorporates all changes that result from 100% submission review. For all projects,
the A/E shall provide (with the final submission only) a copy of the estimate on a electronic medium.