ASTM E2516-06
Historical Standard: ASTM E2516-06 Standard Classification for Cost Estimate Classification System
SUPERSEDED (see Active link, below)
ASTM E2516
1. Scope
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.
2. Referenced Documents (purchase separately) The documents listed below are referenced within the subject standard but are not provided as part of the standard.
ASTM Standards
E631 Terminology of Building Constructions
E833 Terminology of Building Economics
E1804 Practice for Performing and Reporting Cost Analysis During the Design Phase of a Project
Other Standards
AACEInternational Recommended Practice No 56R-08: Cost Estimate Classification System - As Applied in Building and General Construction IndustriesKeywords
Bid/tender; Class 1 estimate; Class 2 estimate; Class 3 estimate; Class 4 estimate; Class 5 estimate; Class of estimate; Cost estimate; Cost estimate classification methodology; Degree of project definition; Deterministic; Effort to prepare estimates; End usage; Estimate classification; Estimate classification matrix; Estimating methodology; Expected accuracy range; Life cycle; Maturity and quality matrix; Project; Stochastic: Building constructions/materials--building economics; Cost analysis (of building constructions); Performance--building materials/applications;
ICS Code
ICS Number Code 03.100.60 (Accountancy)
DOI: 10.1520/E2516-06
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