An Equipment Factored Estimate (Class 4) is a project cost estimate process during the early stage of design and engineering (e.g., Pre-FEED) that is similarly defined by the AACE as a Class 4 Estimate, or the Study or Feasibility Estimate. The Equipment Factored Estimate method is the equipment factors or parametric models with specifications for the major equipment utilising the equipment installation factors (capacity, etc.), and the expected accuracy is Low: -15% to -30%, High: +20% to +50%.
Related Definitions in the Project: The Cost Estimate (Estimation)
