Cost Management - Description of Image

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Development of Project Construction Cost Estimates

Development of Project Construction Cost Estimate – Image Description below

This image describes the National Project Management System (NPMS) model with 3 stages, 9 phases, control points, deliverables and cost estimate categories.

  • Project Inception Stage
    • Definition
  • Project Identification Stage
    • Initiation
      • Deliverable: Preliminary Project Plan
    • Feasibility
    • Analysis
      • Deliverable: Investment Analysis Report (IAR)
      • Control point: Preliminary Project Approval (PPA)
    • Identification Close Out
    • Class D Construction Cost Estimate (Indicative): Develop the indicative construction cost estimate(s) (for each defined option where applicable) and update them as required throughout the phases as project information become more defined, whilst ensuring that current market condition is taken into consideration

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