Conceptual Estimating
Conceptual Estimating is one of the most important pre-design process for a project. It is the process to determine the approximate cost of an intended project at its concept phase.Conceptual estimate is the base in where the feasibility of a project is determined. It is how the owner/investor would learn the anticipated cost of his/her intended project. It is a forecast of project cost without any significant information is available.
Conceptual estimates rely on experience, visualizing and sketching the new project, comparing it with the past similar projects and adjusting to new conditions. It is used to see if the intended project cost is within the "budget" , to determine if proceed or not with the project.
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