Estimates are developed to forecast tender results and other project costs. The estimate is used as part of the approval stage to help departments make decisions about renovations and alterations to their space.
The estimate should include all possible project expenses including the following:
- construction,
- moving charges,
- signage,
- permits,
- consultants,
- furniture,
- data and voice costs,
- security, and
- demolition
The estimates are based on results from historical similar projects at the University and are NOT actual quotations. The actual cost will only be known from the results of competitive tendering. There may be a gap between the estimate and the tender results. Costs are market driven and will be impacted by the amount of construction activity in the city and the cost of materials. If the lowest bid in a tender is higher than the estimate, the Planner or Coordinator will review project options with the user to find a solution.
Additional costs may arise during the construction phase, due to unforeseen site conditions, coordination issues between various disciplines, a change requested by the user, or some other change in the scope of the project. The cost of these changes is requested from the contractor through a Scope-Change-Request. If the user group and the Project Coordinator agree that these are fair and reasonable charges, they will sign a Scope-Change-Request instructing the contractor to proceed with the change. The extra cost could be absorbed from the 20% contingency that is standard on renovation projects. In case this cost exceeds the contingency amount, the user is responsible for the additional funds.
