Estimates

Estimates are developed to forecast tender results and other project costs. The estimate is used as part of the approval stage to help departments make decisions about renovations and alterations to their space. The estimate should include all possible project expenses including construction, moving charges, signage, permits, consultants, furniture, data and voice costs, security and demolition.

The estimates are based on results from other work at the University but they are not actual quotations. The actual cost will only be known from the results of competitive tendering. There may be a gap between the estimate and the tender results. Costs are market driven and will be impacted by the amount of construction activity in the city and the cost of materials. If the lowest bid in a tender is higher than the estimate, the Planner or Coordinator will review project options with the user to find a solution.

During construction, other costs may arise. This could be due to unforeseen site conditions, coordination issues between various disciplines, a change requested by the user or some other change in the scope of the project. The cost of these changes is requested from the contractor through a Contemplated Change Notice form. If the user group and the Project Coordinator agree that these are fair and reasonable charges, they will sign a Change Notice form instructing the contractor to proceed with the change. The extra cost could be absorbed as part of the 15% contingency that is standard on renovation projects or it might be greater than that amount and the user, if in agreement, would provide additional funds.