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An elemental estimate is a structured approach to predicting the costs of a construction project.

This method involves breaking down the project into its fundamental elements, such as substructure, superstructure, finishes, services, and external works.

Each element is analysed individually, allowing for a detailed and systematic estimation process that considers both direct and indirect costs.

Preliminary estimates are created during the initial stages of a project to provide a rough cost approximation based on limited information.

These estimates help clients gauge the potential financial scope and feasibility of a project.

They are usually based on historical data, similar project costs, and broad assumptions, making them essential for initial budget discussions and project planning.

Detailed estimates are comprehensive and highly accurate cost calculations developed once detailed project plans and specifications are available.

These estimates consider all aspects of the project, including materials, labour, equipment, and overheads.

Detailed estimates are crucial for budgeting, securing financing, and establishing the baseline for project cost control and management.