Cost Estimates and Budget Planning

Typically, a project will go through three stages of design: Conceptual, Preliminary and Detailed Design. Panorama provides cost estimates of increasing accuracy at each stage of the project. Each cost estimate is based on current market prices for equipment and materials and local labor rates.

 

A BOD [Basis of Design] and a "Basis of Estimate" are prepared for each project. A set of architectural and engineering drawings form the basis of estimate along with a narrative describing each design aspect of the project.

 

Once each cost estimate is prepared, then a "Cash Flow" (expenditure plan over time) is prepared for use by our clients and Panorama.