What class of estimate is used for the preliminary design phase of a project?

A major theme park is expanding the existing facility over a five-year period. The design phase will be completed one year after the contract is awarded. Major engineering drawings will be finalized two years after the design contract is awarded and construction will begin three years after the award of the design contract. New, unique ride technology will be used and an estimate will need to be developed to identify these costs that have no historical data.

The following question requires your selection of CCC/CCE Scenario 26 (2.5.50.1.2) from the right side of your split screen, using the drop down menu, to reference during your response/choice of responses.

What class of estimate is used for the preliminary design phase of a project?

A. Class 5 – order of magnitude estimate with +50% / -30% accuracy

B. Class 1 – order of magnitude with +30% / -30% accuracy

C. Class 4 – budget estimate with +30% / -15% accuracy

D. Class 2 – definitive estimate with +15%/-5% accuracy

View Answer

Answer: A

Explanation:

The design phase is in the preliminary stages and involves new ride technology with no historical data available.

Steps:

Determine which class of estimate is used in this context.

A Class 5 estimate, which is an order of magnitude estimate with +50%/-30% accuracy, is typically used for projects in the early design or concept stages where detailed data is unavailable.

A. Class 5 – order of magnitude estimate with +50% / -30% accuracy