A Detailed Estimate (Class 1) is a project cost estimate process that is similarly defined by the AACE Class 1 Estimate, or the Check Estimate, or Definitive Estimate. The Detailed Estimate methodology is the detailed unit cost with each component comprising a project scope definition has been quantitatively surveyed and priced using the most realistic unit prices available, and detailed material take‐off after the detailed engineering is completed, and the expected accuracy is Low: ‐3% to ‐10%, High: +3% to +15%.
Related Definitions in the Project: The Cost Estimate (Estimation)
