Opinion of Probable Cost
All projects to a greater or lesser extent are driven by their budgets. These budgets, established by the Owner are used as the basis for development of a design solution. Estimating, or development of an “Opinion of Probable Cost” in an important part of all projects. Estimating techniques come in a number of forms and levels of details.
The simplest form of estimate is a “Square Foot” estimate, establishing a cost for the project, based on its complexity, multiplied by the size of the proposed solution. More detailed estimates are prepared as the project is more comprehensively understood. Teitsch-Kent-Fay Architects, P.C. and our team use a “Systematic” estimating technique. In this way, a more comprehensive estimate is developed, avoiding omissions and providing the Owner with a more useful tool to evaluate the current state of the budget.