What is a characteristic of a Class A estimate?

A Class A estimate is characterized by its reliance on detailed project information, which includes specified project systems and realistic construction schedules. This type of estimate is typically developed during the later stages of design, allowing for a more accurate projection of costs based on specific parameters. This level of detail makes it suitable for decision-making processes, project funding, and establishing budgets.

The use of specified project systems means that the estimate takes into account particular design elements, materials, and methods that will be used in the construction of the project. Coupling this with realistic construction schedules ensures that the estimate reflects not just the costs of materials and labor, but also the timing of when these costs will be incurred. This combination of specificity and realism is critical for stakeholders to make informed decisions regarding the viability and financing of a project.

While historical cost data may play a role in some estimates, it is not the defining characteristic of a Class A estimate. Similarly, estimates submitted at different phases, such as design development, focus on various levels of detail and are not exclusive to Class A. Lastly, rough order of magnitude estimates typically relate to earlier project phases and serve different purposes, such as quick assessments rather than the comprehensive insights provided by a Class A estimate.