Maintaining Phase Ranges for a Cost Estimate Contingency

For different cost estimate phases, you can assign a range of numbers that represent the expected percentage markup to be applied to the total cost estimate amount to account for this contingency. In general, ranges for phases earlier in the estimation process are higher than in subsequent phases as the design becomes more finalized.

The Phase Ranges tab on the Cost Estimate Contingency Assignment Summary includes all of the estimation phase ranges recorded for the cost estimate contingency.

Each row contains current values in these fields:

Click in a field and add, change, or delete information as needed.

To delete a phase range from the cost estimate contingency, select Delete from the Actions menu on the phase range row. The system shades the row gray to indicate it is marked for deletion. To reverse the delete action, click the Undo button.

To add a phase range to the cost estimate contingency, click the New button. The system adds a blank row to the list. To save the new phase range, you must enter values in the Phase and Factor fields. If you enter a factor that is outside the recommended range, you might be required to enter an explanation.

When you are finished making changes, click the Save button. The system displays a message to confirm that your changes were saved in the database.