Standards

Standards and References

Expected estimate accuracy range is an indication of the degree to which the final cost outcome for a given project will vary from the estimated cost.

Basic formats for Elemental Costing and Measurement:

  • CIQS Standard:
    CIQS Method of Measurement – Pricing & Measurement of Buildings by Area & Volume, 4th Edition
  • Uniformat Standard:
    ASTM 1557 – 5 UNIFORMAT II

References:

  • Trade Breakdown and Specification Formatting:
    CIQS Method of Measurement of Construction Works, 8th Edition, 2004 “Masterformat system TM”
  • Life Cycle Costing:
    ASTM E917-05 Standard Practice for Measuring Life-Cycle Costs of Buildings and Building Systems1
  • Performing and Reporting:
    Cost Analysis during design: ASTM E1804
  • Class of Estimates:
    Standard Estimating Classification System ASTM E2516-06

  • Cost Estimate Classification System:

    Expected estimate accuracy range is an indication of the degree to which the final cost outcome for a given project will vary from the estimated cost.

    class Description Purpose Method Expected Estimate Accuracy
    5 Indicative/Conceptual Screening/Feasibility Historical/Info -30% - +50%
    4 Feasibility/OOm Concept/or Feasibility Parametric Ration -20% - +30%
    3 Preliminary Budget Authorization/Control-NB* Equipment/Factored/Semi-detailed -15% - +20%
    2 Definitive Control or Bid/Tender Detail-Quantity Based -10% - +15%
    1 Pre-tender Check Estimate/Bid-NB Detail-Quantity & Full Spec Based -5% - +10%