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Estimating Probable Cost
Providing reasonably accurate estimates of probable cost is something that
most architects provide as a part of their basic services. Understanding what you can and can't afford helps you as a client make good decisions
about what you want in a building before bids are received. Choices to reduce costs after receiving high bids are usually made in haste and many
times simply left up to the discretion of the architect. The careful planning that went on before bidding may be forgotten in the rush to get the
project within budget.
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We attempt to be conservative, with the result that most projects are bid slightly under
estimates of probable cost. A plus-or-minus 10% accuracy is considered normal and with a few exceptions we are in this range on the
original bids. This is important if you, as a client, have a limited budget or are dealing with public funds that must be spent wisely.
Our record of estimating probable cost on major projects since 1982 is shown on the following
spreadsheet. The "Estimated Base Bid" column represents numbers based on drawings and specifications being issued to contractors prior
to bidding. These numbers represent original estimates and contractor bids; none of them are re-bid figures.
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Contact: sdesign@midrivers.com