• ASTM E2516-06
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ASTM E2516-06

  • Standard Classification for Cost Estimate Classification System
  • standard by ASTM International, 10/01/2006
  • Publisher: ASTM

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1.1 This classification provides a generic classification system for cost estimates and provides guidelines for applying the classification to cost estimates.

1.2 This classification maps the phases and stages of cost estimating to a generic maturity and quality matrix, keyed to a level of project definition, that can be applied across a wide variety of industries.

1.3 The Cost Estimate Classification System has been developed in a way that:

1.3.1 provides a common understanding of the concepts involved with classifying cost estimates;

1.3.2 defines and correlates the major characteristics used in classifying cost estimates, and;

1.3.3 uses the degree of project definition as the primary characteristic used to categorize estimate classes.

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