Preliminary Estimate

A Preliminary Estimate in the construction industry is an initial, rough calculation of the total costs associated with a proposed construction project. This estimate is based on early design information, project scope, and historical data. It provides a ballpark figure for the project’s overall cost, helping clients and project teams make informed decisions about project feasibility, budget allocation, and the need for any design adjustments. Preliminary estimates are crucial for the early planning stages, allowing for financial planning and project viability assessments before detailed designs and specifications are completed.