The Five Estimate Classes

8/2/2019 The Five Estimate Classes

1/5


2/5

This post is the fourth installment in a series of posts about AACEs 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 thatHD Project Cost Management softwareis 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.

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The Five Estimate Classes: Class 3, Authorizationby Hard Dollar on January 27th, 2012
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3/5

This post is the third installment in a series of posts about AACEs 5 Estimating





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, were 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. HDs ability to add assemblies from libraries or historical data allows the estimator to

efficiently and accurately build out a C3 estimate.

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The Five Estimate Classes: Class 4, Feasibilityby Hard Dollar on January 20th, 2012
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4/5

This post is the second installment in a series of posts about AACEs 5 Estimating





The Class 4 or Feasibility estimate is slightly more definitive than the Class 5. Like the C5 estimates, C4 estimates are

typically put together based on very little information. They are most often used for concept evaluation, project screening or

gating, feasibility studies, or initial budget planning and approval. The definition required in a C4 estimate is only 1-15% and

may include details like plant capacity, schematics, layout, and process flow. The C4 estimate intends to make a

determination on whether or not the project continues on to the next stage of the process.

Class 4 estimate methodology is based on equipment factored or parametric models. HDs BidWizard is used in this type of

estimating often in tandem with data easily integrated from third-party providers such asRSMeansandRichardson.

Tags:AACE,Class 4,Construction Management,Estimating,Estimating Software,PCM,Project Cost ManagementPosted inBlog| Comments Off

The Five Estimate Classes: Class 5 for Project Stage Gatingby Hard Dollar on January 13th, 2012
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5/5

This post is the first installment in a series of posts about AACEs 5 Estimating





The Class 5 or Project Stage Gating estimate is the least definitive, and subsequently, the least time consuming of the

group, often requiring an hour or less to create. These estimates are typically put together based on very little data. Many

times only the type of project and its location are known. As a result, the definition required in a C5 estimate is only 0-2%.

The question answered by the Class 5 estimate is, in essence, Do we want to initiate the project, or not?

Class 5 estimate methodology is based on parametric models, judgment of the estimator, and/or analogous projects. Crews

and assemblies are not included. Plug in a cost from HD ProjectFacts (which contains high, low, and average costs by

item), and parametric models tied to Excel can quickly complete a C5 estimate.
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Documents

The Five Estimate Classes