We provide early budgeting, at the conceptual stage, to enable our clients to evaluate the viability of a project. Early involvement enables us to establish a baseline cost estimate that guides design decisions during the preconstruction process. As the design proceeds, we continually update the budget with the latest information. In addition to our extensive historical cost database, we often include subcontractor input for key design elements.

Typical estimate development:

  • Conceptual Design Estimate—Early in the design process, conceptual cost estimates provide important information for project analysis and a method to explore different system alternatives. Overall accuracy is usually within 15%.
  • Schematic Estimate—Prepared at the completion of schematic design, the baseline estimate is updated for ongoing use in guiding the design and updating the proforma. Overall accuracy is usually within 10%.
  • Design Development Estimate—An updated estimate that reflects the most recent design concept. This is a critical phase from a budget perspective, as value engineering suggestions are most effective if they can be implemented into the design as it is finalized. Overall accuracy is usually within 5%.
  • GMP (Guaranteed Maximum Price)—The GMP is established at the completion of contract documents by incorporating competitive bids from subcontractors and material suppliers as well as detailed labor estimates for any self performed work. We offer an open-book approach with owner and design team participation. An extensive database of cost knowledge and a proven subcontractor base in the western markets support all of our estimates.