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high bid can vary as much as 30% dependent on contractor availability and regional <br />workloads. <br />The high recommended contingency allows for providing initial expectations that are <br />more likely to be built given the many variables impacting such a large program. <br />Expected Range of <br />Accuracy <br />AACE <br />Class <br />ANSI <br />Classification <br />Typical Use <br />Project <br />Definition <br />Low <br />Expected <br />Actual <br />Cost <br />High <br />Expected <br />Actual <br />Cost <br />Other Terms <br />Class 5 <br />Qrder�f- <br />Magnitude <br />Strategic Planning; <br />Concept Screening <br />p g <br />0% to 2% <br />-50%to - <br />20% <br />+30%to <br />+100% <br />ROM; Ballpark; Blue Sky; <br />Ratio <br />Class 4 <br />Feasibility Study <br />1 fin to <br />15`Yo <br />-30"-i, to - <br />15% <br />+20% to <br />+50% <br />Feasibility; Top -down; <br />Screening; Pre -design <br />Class3 <br />Budgetary <br />Budgeting <br />10% to <br />40°!u <br />-20% to - <br />10% <br />+10% to <br />+30°/a <br />Budget; Basic <br />Engineering Phase; Semi - <br />detailed <br />Class 2 <br />Definitive <br />Bidding; Project <br />Controls; Change <br />Management <br />30%to <br />753ro <br />15°ti to <br />5% <br />+59'o to <br />+20"/a <br />Engineering; Bid; <br />Detailed Control; <br />Forced Detail <br />Class 1 <br />Bidding; Project <br />Controls; Change <br />Management <br />65% to <br />100% <br />-10% to - <br />3% <br />+3% to <br />+15% <br />Bottoms Up; Full Detail; <br />Firm Price <br />Figure 1 <br />As the underpass program development progresses risks will be mitigated and <br />uncertainty will become lower in cost estimation. However, additional cost will likely be <br />realized as further design progresses at each location and details become more specific <br />and unforeseen circumstances arise (Figure 2). <br />Agenda Packet P. 11 <br />