[1.4] WHAT IS A CONSTRUCTION COST ESTIMATE CLASSIFICATIONS?
In a new building project, the design is typically developed in three stages of a project such as

- Concept Design Stage;
- Scheme Design Stage; and
- Detailed Design Stage.

The type of Cost Estimate is generally done varies at different stages of the project prior to the return of tenders such as

- Concept Cost Estimate;
- Schematic Cost Estimate; and
- Detailed Cost Estimate.