Types of Construction Estimates (Conceptual to Definitive)

Cost estimating evolves through various levels of detail as the project matures — from broad conceptual figures to precise contract bids.

Types of Construction Estimates

Examples

  • Conceptual Estimate: ₹1,200 per sq. ft. for a school building.
  • Preliminary Estimate: ₹2.5 Cr. based on schematic design and material assumptions.
  • Definitive Estimate: ₹2.35 Cr. after complete BOQ and vendor quotations.

As the project design matures, the accuracy increases and the uncertainty decreases.

Category: Construction Academy

Subcategory: Budgeting and Planning

Subcategory: Construction Phase

Subcategory: Design Coordination

Subcategory: Estimation Techniques

Subcategory: Initiation and Feasibility

Subcategory: Introduction

Subcategory: Personal Management

Subcategory: Project Close-Out

Subcategory: Project Scheduling

Subcategory: Project Teams

Subcategory: Proposal Management

Subcategory: Total Quality Management

Subcategory: Tracking and Control

Subcategory: Work Breakdown

Category: Help Desk

Subcategory: Client

Subcategory: Construction 101

Subcategory: Contractor Management

Subcategory: Expense

Subcategory: Finance Budget

Subcategory: Inventory Management

Subcategory: My Approvals

Subcategory: Site Management

Subcategory: Vendor Management