A Project Budgetary Cost Estimate (Class 3) is a project cost estimate process during that is similarly defined by the AACE as the Class 3 Estimate, or Budget Authorization or Control. The project Budgetary Estimate methodology is semi‐detailed unit costs with assembly level line items, and the expected accuracy is Low: ‐10% to ‐20% and High: +10% to +30%. The Project Budgetary Cost Estimate is normally performed during the FEED and used for the FID (Final Investment Decision).
Related Definitions in the Project: The Cost Estimate (Estimation); Project Cost
