Class 4 Estimates are typically used for which phase of a project?

Class 4 estimates, often referred to as feasibility estimates, are typically utilized in the early phases of a project, specifically during the concept study phase. These estimates help determine the potential costs associated with a project before significant design work has begun. At this stage, the information available is generally limited, and the estimates are based on high-level assumptions and historical data.

The primary purpose of Class 4 estimates is to assist decision-makers in evaluating the viability of a project idea, allowing them to make informed choices regarding investment and further development. This phase involves reviewing alternative solutions, assessing feasibility, and enabling stakeholders to understand the financial implications of pursuing a new project.

In contrast, the other choices represent phases in project management where more detailed information and refined cost estimations are required. For example, the control or bid phase typically uses more precise estimates, leveraging detailed design inputs. Therefore, the selection of Class 4 estimates in the concept study phase aligns perfectly with their intended use in project planning and financial viability analysis.