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Cost Estimating Guideline - State

Cost Estimating Guideline February, 2017 Procedures are subject to change without notice. Check the Capital Project Delivery website to ensure this is the current version. Table of Contents Section 1 - Introduction .. 1 Purpose .. 1 General Estimating Concepts .. 1 Contents of the Cost Estimating Guideline .. 2 Section 2 - Cost Management Process .. 3 Estimating Concepts Throughout Project Development Stages .. 3 NJDOT Cost Estimation Process by CPD Delivery Phase .. 4 NJDOT Cost Estimating Process Summary .. 9 Estimating Process Background .. 10 Estimate Documentation .. 11 Project Estimate File .. 12 Major Project Program Cost Estimating (>$500M) .. 13 Section 3 - Cost Estimating methods .. 14 Introduction .. 14 AASHTOWare Project Cost Estimation software.

Section 3, Cost Estimating Methods, discusses historical, conceptual, risk-based, and cost-based ... progresses, more of the project's parameters will be defined and the expected accuracy of the estimate will increase. As such, the work effort required to prepare, document and review the estimate also ...

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