Types Of Classification Of Estimation

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Project Delivery Assignment #2 Various types of classifications of estimation: There are four independent levels for classifying project estimations in the construction industry. Levels are based on the completeness of the project documents and the amount of detail that they are presented in. The highest level of estimation (Class A) will provide the owner or project sponsor with the most amount of detail in the drawings and specifications. Class A estimates are considered to be pre-tender estimates in which they are fifty percent completed and will stay within a margin of five to ten percent of the actual contract cost. Class B estimates present incomplete documents but with detailed information on the design which must be submitted for…show more content…
A procedure called takeoff or reliable identification, is this process in which all the resources mentioned above are accounted for and recorded. In other words, estimators start “taking off” quantities of resources they will need from the drawings provided. The differentiation of the projects will determine the class of estimation used, there will be projects in which great amount of detail in the design is required and others that are more closely focused on the functionality of the facility and the services that will be provided from it. Various dispute resolution methods available: Dispute resolution is one of the most important sections in a construction contract. Most contracts never have the necessity to perform any terms in the resolution section. However, it is important that each individual contract contains a section in which a resolution to any dispute can be dealt with. Within the civil justice system, litigation and trial are available when determining what the outcomes will be. There is another method as well, the so often called ADR (alternative dispute resolution), offers less legal
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