Estimates during conceptual planning:
This estimate is prepared at the very initial stage i.e. during conceptual planning stage of a project. It is based on little information and on broad parameters namely size of the project, location and job site conditions and the expected construction quality of project as a whole. The size of the project may be expressed in terms of its capacity namely number of rooms for a hostel, number of beds for a hospital, length (km) of a highway etc. Owner of the project provides adequate input for defining scope of the project and this scope of the project forms the basis on which the conceptual estimate is prepared. This estimate is prepared to establish the preliminary budget of the project and accordingly project funding can be arranged. The degree of accuracy of this estimate is lowest among all the estimates those are prepared during various stages of a project.

Estimates during schematic design:
During this phase of the project, the cost estimate is prepared on the basis of preliminary design information along with required schematic documents. The designer may incorporate different design alternatives and the cost estimate is prepared for these design alternatives by the estimators depending on the available information. The cost estimates of different design alternatives are reviewed keeping in view the project scope and budget and the acceptable alternative(s) selected in this phase is analyzed in a detailed manner in the next phase of the project. This cost estimate is prepared by calculating the cost of major project elements by unit pricing from the available preliminary design information. Subcontractors or material suppliers may be asked to furnish information while pricing the major project elements. As the cost estimate is prepared using preliminary design information, a contingency may be added in the estimate to accommodate for the unknown design details. With the improved scope of the project, the expected degree of accuracy in this estimate is more as compared to that in conceptual estimate.