Cost Estimate and Project Schedule Clause Samples

The 'Cost Estimate and Project Schedule' clause defines the process by which the anticipated costs and timeline for a project are established and communicated between the parties. Typically, this clause requires the contractor or service provider to prepare and submit a detailed breakdown of projected expenses and a timeline outlining key milestones and completion dates. By formalizing these expectations, the clause helps ensure both parties have a clear understanding of budgetary and scheduling commitments, reducing the risk of misunderstandings or disputes over project scope, timing, or costs.
Cost Estimate and Project Schedule. Upon completion of the Design Development Phase for each phase of the PROJECT or appropriate portion thereof, the CM, with the assistance of the A/E, shall prepare and submit a Detailed Estimate of Construction Cost and a Project Schedule indicating milestone completion dates for approval by the COUNTY. In establishing the Detailed Estimate of Construction Cost, the CM shall include reasonable contingencies for design, bidding and price escalation and determine in conjunction with the A/E and the COUNTY the materials, equipment, component systems and types of construction to be included in the Contract Documents. The CM and the A/E shall review any difference between the Construction Budget or the Statement of Probable Construction Cost and the Detailed Estimate of Construction Cost, identify reasons for any difference and recommend means to eliminate the difference, if necessary. The CM, the A/E and the COUNTY shall agree upon the means to eliminate any difference between the Construction Budget and the Detailed Estimate of Construction Cost, and the CM shall prepare a report describing the agreed upon means. The CM and the A/E shall review any differences between the Preliminary Project Schedule and the Project Schedule, identify reasons for the differences and recommend whether the differences should be eliminated and, if necessary, means to eliminate the differences. If the CM, the A/E and the COUNTY agree to eliminate any such differences, the CM shall prepare a report describing the agreed upon means. The CM, the A/E and the COUNTY shall make any necessary amendments to the Approved Program of Requirements in accordance herein with Subparagraph 2.6., Approved Program of Requirements and Revisions.
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Cost Estimate and Project Schedule. Upon completion of the Design Development Phase for each phase of the Project or appropriate portion thereof, the Associate shall prepare and submit a Detailed Estimate of Construction Cost and a Project Schedule indicating milestone completion dates for approval by the Owner. In establishing the Detailed Estimate of Construction Cost, the Associate shall include reasonable contingencies for design, bidding and price escalation and determine in conjunction with the Owner the materials, equipment, component systems and types of construction to be included in the Contract Documents. The Associate shall review any difference between the Construction Budget or the Statement of Probable Construction Cost and the Detailed Estimate of Construction Cost, identify reasons for any difference and recommend means to eliminate the difference, if necessary. The Associate and the Owner shall agree upon the means to eliminate any difference between the Construction Budget and the Detailed Estimate of Construction Cost, and the Associate shall prepare a report describing the agreed upon means. The Associate shall review any differences between the Preliminary Project Schedule and the Project Schedule, identify reasons for the differences and recommend whether the differences should be eliminated and, if necessary, means to eliminate the differences. If the Associate and the Owner agree to eliminate any such differences, the Associate shall prepare a report describing the agreed upon means. The Associate and the Owner shall make any necessary amendments to the Approved Program of Requirements in accordance with Subparagraph 2.2.2.
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Cost Estimate and Project Schedule. 2.5.3.1 As the Drawings and Specifications are developed, the A/E shall inform the CM, the Owner, and the Contracting Authority of the need for any changes in Project requirements or in construction materials, systems, or equipment and of the need for any adjustments in the Detailed Estimate of Construction Cost and the Project Schedule. 2.5.3.2 Upon prior written approval of the Owner and the Contracting Authority of any such changes or adjustments in Project requirements or in construction materials, systems, or equipment, the CM, with the assistance of the A/E, shall revise the Detailed Estimate of Construction Cost and Project Schedule, as applicable, incorporating such changes or adjustments.
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Cost Estimate and Project Schedule. 1 Upon completion of the Design Development Stage for each phase of the Project or appropriate portion thereof, the A/E shall prepare and submit, for the Owner’s approval, a Detailed Estimate of Construction Cost and a Project Schedule indicating Milestone completion dates.‌ .2 In establishing the Detailed Estimate of Construction Cost, the A/E shall include reasonable contingencies for design, bidding, and price escalation and determine, in conjunction with the Owner, the materials, equipment, component systems, and types of construction to be included in the Contract Documents.
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Cost Estimate and Project Schedule. 2.4.4.1 The CM, with the assistance of the A/E, shall prepare and submit to the Contracting Authority and the Owner, for review and approval, a Detailed Estimate of Construction Cost, based on current area, volume, and other unit costs, and a Project Schedule indicating Milestone completion dates. 2.4.4.2 In establishing the Detailed Estimate of Construction Cost, the CM, with the assistance of the A/E, shall include reasonable contingencies for design, bidding, and price escalation and determine, in conjunction with the Owner, the materials, equipment, component systems, and types of construction to be included in the Contract Documents. 2.4.4.3 The A/E and CM shall review any difference between the Construction Budget or the Statement of Probable Construction Cost and the Detailed Estimate of Construction Cost, identify reasons for any difference, and recommend means to eliminate the difference. 2.4.4.4 The A/E, the CM, and the Owner shall agree upon the means to eliminate any difference between the Construction Budget and the Detailed Estimate of Construction Cost, and the CM shall prepare a written report describing the agreed upon means. 2.4.4.5 The A/E and the CM shall review any differences between the Preliminary Project Schedule and the Project Schedule, identify reasons for the differences, and recommend whether the differences should be eliminated and means to eliminate the differences. 2.4.4.6 If the A/E, the CM, and the Owner agree to eliminate any such differences between the Preliminary Project Schedule and the Project Schedule, the CM shall prepare a written report describing the agreed upon means. 2.4.4.7 The A/E, the CM, and the Owner shall make any necessary amendments to the Approved Program of Requirements in accordance with subparagraph 2.2.2.
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Cost Estimate and Project Schedule. Based upon the Program of Requirements and the Design Development Documents, the Architect shall assist the Construction Manager to prepare and submit a Detailed Estimate of Construction Cost and a Project Schedule indicating milestone completion dates for approval by the School District Board. In establishing the Detailed Estimate of Construction Cost, the Construction Manager shall include reasonable contingencies for design, bidding and price escalation and determine in conjunction with the School District Board and the Architect the materials, equipment, component systems and types of construction to be included in the Contract Documents. The Architect and the Construction Manager shall review any difference between the Construction Budget or the Statement of Probable Construction Cost and the Detailed Estimate of Construction Cost, identify reasons for any difference and recommend means to eliminate the difference, if necessary. The Architect, the Construction Manager and the School District Board shall agree upon the means to eliminate any difference between the Construction Budget and the Detailed Estimate of Construction Cost, and the Construction Manager shall prepare a report describing the agreed upon means. The Architect and the Construction Manager shall review any differences between the initial Project Schedule and the updated Project Schedule, identify reasons for the differences and recommend whether the differences should be eliminated and, the means to eliminate the differences. If the Architect, the Construction Manager and the School District Board agree to eliminate any such differences, the Construction Manager shall prepare a report describing the agreed upon means. The Architect, the Construction Manager and the School District Board shall make any necessary amendments to the Program of Requirements in accordance with Subparagraph 2.2.2.
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Cost Estimate and Project Schedule. Upon completion of the Design Development Phase, Project Manager, with the assistance of Architect, shall prepare and submit a Detailed Estimate of Construction Cost. If the Detailed Estimate of Construction Cost exceeds the total Project Budget, Project Manager shall identify reasons for and recommend means to eliminate such excess. Project Manager, Architect and Owner shall agree upon the means to eliminate the excess or revise the Project Budget, and Project Manager shall prepare a report describing the agreed upon means.
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Related to Cost Estimate and Project Schedule

  • Project Schedule Construction must begin within 30 days of the date set forth in Appendix A, Page 2, for the start of construction, or this Agreement may become null and void, at the sole discretion of the Director. However, the Recipient may apply to the Director in writing for an extension of the date to initiate construction. The Recipient shall specify the reasons for the delay in the start of construction and provide the Director with a new start of construction date. The Director will review such requests for extensions and may extend the start date, providing that the Project can be completed within a reasonable time frame.

  • Cost Estimate The cost estimate shall set out the estimated costs for the proposed Change Order in such a way that a fair evaluation can be made. It shall include a breakdown for labor, materials, equipment and markups for overhead and profit, unless TxDOT agrees otherwise. If the work is to be performed by Subcontractors and if the work is sufficiently defined to obtain Subcontractor quotes, DB Contractor shall obtain quotes (with breakdowns showing cost of labor, materials, equipment and markups for overhead and profit) on the Subcontractor’s stationery and shall include such quotes as back-up for DB Contractor’s estimate. No markup shall be allowed in excess of the amounts allowed under Section 10.6. DB Contractor shall identify all conditions with respect to prices or other aspects of the cost estimate, such as pricing contingent on firm orders being made by a certain date or the occurrence or non-occurrence of an event.

  • Construction Schedule The progress schedule of construction of the Project as provided by Developer and approved by District.

  • Cost Estimates If this Agreement pertains to the design of a public works project, CONSULTANT shall submit estimates of probable construction costs at each phase of design submittal. If the total estimated construction cost at any submittal exceeds the CITY’s stated construction budget by ten percent (10%) or more, CONSULTANT shall make recommendations to CITY for aligning the Project design with the budget, incorporate CITY approved recommendations, and revise the design to meet the Project budget, at no additional cost to CITY.

  • Contract Schedule The information set forth in the Contract Schedule is true and correct.