Types of Preliminary Estimates

Rough Order Magnitude Estimate (ROM)

The first step in estimating the project’s lifecycle is the rough order magnitude estimate or ROM. ROM helps to determine the initial cost and feasibility of complex construction projects. It relies on historical data and is useful for the project budgeting goals. It’s Precision ranges from -50% to +50%.

Budget Estimate

After determining the cost analysis, we make a detailed preliminary budget for your project. This helps you make wise decisions as the project progresses and gives you an idea of potential risks to save money. You can trust our professionals to achieve an accuracy of -50% to +50%.

Ballpark Estimate

When your project moves into the planning phase, preliminary cost estimates are required to predict future costs. Our ballpark estimates include an evaluation of your drawing plans. We provide an accuracy level of approximately 20% of the actual cost.

Square Foot or per unit Cost

This estimate determines standardized costs per unit, such as per square foot, per cubic yard, or item produced.

Definitive Estimate

Definitive Estimate is a digital cost estimate that enlists all the components included in your project, providing precise cost estimates during the preliminary estimating phase. It’s constructed through already thoroughly developed project plans. Its accuracy lies within -5% to +15% of the actual cost.