Pre-Tender Estimate
A Pre-Tender Estimate is a detailed cost estimate prepared by the clients cost consultant immediately before tender documents are issued to contractors. It represents the most accurate pre-construction cost prediction and serves as the benchmark against which tender returns are evaluated.
Purpose
The pre-tender estimate:
- Provides a final check on project affordability before commitment
- Sets the benchmark for tender evaluation
- Identifies any remaining cost risks
- Confirms the project remains within the approved budget
Timing
The pre-tender estimate is prepared at RIBA Stage 4 (Technical Design), after:
- Design is substantially complete
- Specifications are finalised
- Bills of quantities or schedules of works are prepared
- All consultants drawings are coordinated
Content
A comprehensive pre-tender estimate includes:
- Measured building works (priced using current market rates)
- Provisional sums and prime cost sums
- Main contractor preliminaries
- Overheads and profit allowances
- Design development and construction contingencies
Related Terms
See also: Tender, Detailed Estimate, Bill of Quantities
