Definitive Estimates are prepared from what type of data?

Definitive Estimates are prepared from very defined engineering data. This type of data is characterized by detailed and specific information about the project, including accurate materials, labor costs, and project specifications. When creating a Definitive Estimate, professionals rely on comprehensive engineering studies, detailed design documents, and thorough project plans. Such data allows for a high level of confidence in the cost estimates, as it reflects a mature understanding of what the project entails. This type of estimate typically follows initial estimates that may be more flexible and reliant on less precise data, emphasizing the importance of solid technical information in achieving accuracy in cost estimation.