What is essential for the estimating team to prepare reliable estimates?

The preparation of reliable estimates hinges significantly on contract documents, as they contain crucial information that directly impacts the budgeting and planning process for a project. These documents typically outline the scope of work, project requirements, and terms and conditions that must be adhered to. They provide the foundation upon which estimates are based, as they detail the obligations of the contractor and client, pricing structures, and any special conditions related to the project.

Having access to contract documents ensures that the estimating team understands what is expected in terms of deliverables, which helps avoid underestimating or overestimating project costs. This comprehensive understanding is vital for creating accurate, actionable estimates that reflect the true scope of work and associated expenses.

While other factors, such as interpersonal communication skills, technical specifications, and project blueprints, are important, they do not provide the foundational legal and procedural context necessary for forming reliable estimates as effectively as contract documents do.