Okay, in this section, we're now going to discuss building the actual estimate itself. So far, Abraham, Ian, and myself have discussed the three main parts which are required before you start building the estimate. As a recap, these are, design understanding, measurement and how to take off, and pricing. Once you've understood these key areas, we can now start physically building the cost estimate. As part of building the estimate, we're going to discuss the following topics. Estimate classification, methods and formats of estimates, building and finalizing the estimate, and checks and due diligence. We've already discussed the design spectrum, covering all aspects of design, from concept, through to schematic, design development, and construction. All of these stages play a very important role in building the estimate and understanding the type of estimate you're actually building. Before you can even begin your take-off, you need to understand what class of estimate you will be building your estimate to. As you can see on the screen, your estimate will need to fit into one of the four design categories that we have already discussed. So you have your order of magnitude, or concept, your schematic design, your design development, and construction design. The reason why it is important you understand the type of estimate required is that it will affect the level of detail you'll go into with your measurement take-off. The level of detail you'll go into your sourcing of pricing. The contingency level and overall accuracy of your estimate. And level of overall detail of your estimate, e.g., a simple square foot basis of estimate would be more in line with a concept or schematic design. As you'll see on the screen, and as previously discussed in other sections of the module, the amount of contingency you allow for in your estimate goes hand in hand with the stage of design your project is at, or that has been nominated for the estimate. These are, concept stage, or order of magnitude, with a 25 to 50% level of accuracy. Schematic design stage, with a 15-20% level of accuracy. Design development stage, with a 10% accuracy. And construction stage at 5% accuracy. So it's very important you understand the cost of estimate and the amount of contingency you will need to include in the estimate, which is based on the accuracy of the design and other project documents. Okay, methods and formats of estimates. There are many ways that you can build or construct a cost estimate. Globally, there are several different types of estimate formats that can be used. But the most important considerations you need to have is the following. A logical, organized structure. Clear and user-friendly format. Common understanding for users, following construction principles. Now, the users primarily are architects, engineers, project and cost managers. So they all need to be able to understand it and use it at ease. The format is usually associated to the building's specifications and other building guidelines. From a cost point of view, it needs to financially make sense and flow well. Although there are several different types that are used globally, they will follow the same principle, just using different formatting styles and different terminology. The principles are nearly always the same. And you should be able to apply these to any country or regional estimating format used. Now, I've used a different estimating format in the UK, Australia, and the US. But the principles are always the same. In USA, the most common format is the MasterFormat, which stems from the Construction Specifications Institution, or more commonly known as CSI. CSI was set up just after the Second World War, with the main aim to bring organization and structure to the building industry. The cost and organization format has since evolved significantly. And there are 50 construction divisions that an estimate can be built upon. But commonly, in the workplace today, 16 of the MasterFormat codes or divisions used are the following. Now, you can see on the screen the 16 most common divisions used. Think of these as headings, that you will build your estimate and place the scope of work items that you've measured under these headings. So this is your top level. So Division 01- General Requirements. Now, these are site-specific items that are required to keep the day to day of the construction site running. For example, your crane hire. It could be storage containers, anything like that, that keeps the site running. In the UK and Australia and other parts of the world, these are commonly known as preliminaries. Next up, you got your Site Construction. This is typically your construction work to the existing site, and to even the building that is currently on the site. Works can include demolitions of existing buildings or general site demolitions. Division 03 is Concrete. So this is anything concrete-related, concrete for your foundations, concrete for your slab, your upper floors. This all comes into this division. Masonry, this would be your external walls, anything masonry related, internal masonry walls as well. Division 06 is your Woods and Plastics. 07- Thermal and Moisture Protection. Your roof items go into there. Doors and Windows. You got your Finishes in Division 09, Specialities in Division 10. Now, these would be toilet partitions or display cases. Division 11 would be Equipment, 12, your Furnishings. 13- Special Construction. Okay, these are items that are not typically in a construction project. For example, a swimming pool or a sauna. These are unique, special construction items. Now, bear in mind, you may not have any special constructions on the project you're working on. So you just do not include Division 13. And it's the same for any of the other divisions. You just exclude it. This is really just a guideline and format to follow to help build your estimate and for your user to understand and know where to find it when they're going through your estimate. Division 14 is Conveying Systems. So that's elevators, dumbwaiters, those kind of mechanical items. Division 15 is Mechanical. So this would include your HVAC and your plumbing. And Division 16 is Electrical. So this would be your main electrical and also your IT and AV items. This now gives you a feel of the 16 main construction divisions you typically use when building an estimate. As mentioned earlier, Think of these as your headings. Keep the CSI MasterFormat by your side and refer to it as you build your estimate, especially if you're new to building estimates, creating estimates. Always have this kind of literature to your side and use it as you're building the estimate. And over time, over years, you'll start to remember it, and you'll know it off by heart. The key is, you don't need to use every division. And you can use even more divisions, so look them up. As I mentioned earlier, there are 50 in total. The 16 mentioned earlier are the most common ones. The key is to review drawing set. Understand the estimate class. And use the MasterFormat divisions that work best with your design set, understanding the scope of works and the estimate class you're working in. Further to the MasterFormat, it should be noted that there's also a slightly more simplified estimating structure that can be used. And is ideal when you are producing an estimate in an order of magnitude or concept cost estimate. This is known as UniFormat. This is a nice, simple estimating format that is ideal when information is limited or you're at an order of magnitude or concept level of design. There are further levels and detail to each division. Let's keep it simple for today. They are SUBSTRUCTURE, SHELL, INTERIORS, SERVICES, EQUIPMENT AND FURNISHINGS, SPECIAL CONSTRUCTION AND DEMOLITION, and BUILDING SITEWORK. So within SUBSTRUCTURE, you have your foundations, basement construction. In your SHELL, this would cover your superstructure. For INTERIORS, this would be everything, including your partitions, painting, and floor finishes. SERVICES, all of your mechanical, electrical, and plumbing sets. All of your MEP and associated items, such as AV and IT, all come into SERVICES. EQUIPMENT AND FURNISHINGS, this is all your FF&E. SPECIAL CONSTRUCTION AND DEMOLITION, this would be selective building demolition and hazardous materials. Now, your BUILDING SITEWORK is more your external works to the building. So this would be car parks, external stormwater, and things like that. Now let's recap. There are 2 main estimating formats used in the US, both from CSI. You have the MasterFormat with 50 divisions, 16 of them typically used. You have the UniFormat, which is elemental, simplified version, split into seven divisions. Whatever format you use, you just gotta make sure it's clear and there's an organized structure.