This post is the fifth and final installment in a series of posts about AACE’s 5 Estimating Classes. Designed for the new construction employee (engineer, estimator, and field personnel), we will take a high-level look the five types of estimates.

One of the ways that HD Project Cost Management software is unique is that it can handle the full gamut of estimate types, everything from Class 5 through Class 1.

The Class 1 or “Bid/Tender” estimate will include anywhere from 50-100% project definition. Picking up where the C2 estimate left off, the C1 estimate contains fine detail including detailed unit cost with detailed takeoff. C1 estimates are typically prepared only for the most important and critical sections of the project. This level of detail is not required by the entire project, particularly given that the other estimate classes have almost certainly been used prior to this point.

Like the C2 estimates, the C1 estimate is used to create a control to be used as the final baseline. All actual costs and resources are monitored for budget variations, and used for management for the project control portions of the process.

HD Project Cost Management is the key to accurately defining the higher levels of detail required by a C1 estimate. HD can be used throughout the duration of the project to measure progress and adjust variables if/when project changes occur.

This post is the fourth installment in a series of posts about AACE’s 5 Estimating Classes. Designed for the new construction employee (engineer, estimator, and field personnel), we will take a high-level look the five types of estimates.

One of the ways that HD Project Cost Management software is unique is that it can handle the full gamut of estimate types, everything from Class 5 through Class 1.

The Class 2 or “Control” estimate will include anywhere from 30-70% project definition. Picking up where the C3 estimate left off, the C2 estimate is detailed enough to use as a control baseline with which to measure all project work cost and project control. Many contractors use the C2 as a bid estimate to assign contract value.

HD Project Cost Management is the key to accurately defining the higher levels of detail required by a C2 estimate. HD can be used throughout the duration of the project to measure progress and adjust variables if/when project changes occur.

This post is the third installment in a series of posts about AACE’s 5 Estimating Classes. Designed for the new construction employee (engineer, estimator, and field personnel), we will take a high-level look the five types of estimates.

One of the ways that HD Project Cost Management software is unique is that it can handle the full gamut of estimate types, everything from Class 5 through Class 1.

The Class 3 or “Authorization” estimate is much more definitive than Classes 4 and 5. A C3 estimate is nearing the 50% definition mark, with anywhere from 10-40% of the project defined. Budget, appropriation, and control are key reasons for building a C3 estimate. Having completed the C4 estimate, we determined that the project will proceed to the C3 stage. With the C3 estimate, we’re beginning to nail down the entire scope of the project, and data included in the C3 estimate will be used against the actual costs as the project nears completion.

Class 3 estimate methodology is mixed, but contains somewhat detailed unit costs with assembly level (rather than an individual component level) line items. HD’s ability to add assemblies from libraries or historical data allows the estimator to efficiently and accurately build out a C3 estimate.