This webinar will discuss the importance of the estimate process that ensures that the estimate meets the requirements of the project and business, whether it is a Contractor’s estimate or a Project estimate.

The Basis of Estimate documents the estimate and becomes the one deliverable that describes the scope of the project, execution strategies and assumptions made in the build up of the estimate. 

The Basis of Estimate is the basis for Change Management.

Reference will be made to AACE recommended practices:

• 106R-19 Development of the Cost Estimate Basis as applied in Engineering, Procurement and Construction for the Process industry and
• 31R-03 Documenting the Estimate.