An opinion of cost estimate is an estimate for an upcoming project that is still in the planning or conceptual stages.

It is a high level overview of a complex project that includes initial pricing opinions that are likely to change as the project develops.

THE ESTIMATE IS:

• A way to better understand what an upcoming project could cost and determine financial feasibility.

• A tool used to create a budget to request funding.

• A resource to help determine a cost sharing plan between departments for upcoming facilities work.

THE ESTIMATE IS NOT:

• A quote.

• A guaranteed price of final project costs.

• Based on a fully detailed set of plans and product requirements for