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Cost estimation and budgeting are essential tools for planning in the construction industry. It plays a central role in both pre-construction and construction phases of a project. The best practice is to estimate the total project budget as early as possible in the project.

We prepare the first budget at the completion of the architect’s Schematic Design (SD) phase when the drawings are 20% complete. At this stage, there is limited information comprising of a site plan, floor plan and key elevations. If properly managed, this can be used as a key technique for cost planning in construction.

We augment the SD drawing set with a scope narrative that identifies the key owner’s programmatic needs, jurisdictional requirements, utilities and client expectations and convey the cost estimator the full scope of the project.

The owner’s full program should be accurately identified, documented and communicated to the project team. Once the initial budget is established, it becomes an essential tool for managing the balance of the design to meet the owner’s budget requirements.