Estimates are prepared using unit costs provided by the Builder Client and/or industry standard unit costs. A ballpark estimate is a range of hard costs that it may be possible to build a project for. A final estimate is one fixed cost that it may be possible to build a project for. Assumptions about methods and materials required to complete a project may be made by Consultant and may be defined in Specifications prepared by Consultant. An estimate requires specifications in order to more accurately reflect the cost to construct a project. Variables that affect cost to construct include material and labor cost variances over time, material selections, trade partners employed, methods of construction, weather factors, acts of God, etc. Errors and omissions are possible and discrepancies may be based on incomplete information provided by Builder Client.
