A Control Budget Estimate (Class 2) is a project cost estimate work process that is similarly defined by the AACE Class 2 Estimate, or Control, or Bid/Tender Estimate. The Control Budget Estimate methodology is the detailed unit cost with bulk material take‐offs; budgetary or committed cost from the potential bidders and construction subcontractors for equipment and construction direct cost; the detailed and accurately developed project resources mobilisation plan; and the re-defined company guidelines of indirect costs for the specific project. The expected accuracy of control budget estimate is Low: ‐5% to ‐15% High: +5% to +20%. The Control Budget Estimate is one of the project baseline documents.
Related Definitions in the Project: The Cost Estimate (Estimation); Project Cost
