Knowing the numbers from the start can make all the difference in how your next construction project plays out. Different types of estimates can make or break the calculation process. From quick ballpark figures to detailed breakdowns, each type of estimate plays a unique role in helping teams plan, budget, and build smarter.
Traditional estimating models aren’t enough anymore – especially when working with big, fast-moving, and complex projects. That’s where construction estimates additional options come in. New tools and approaches are changing the industry and helping teams move beyond static spreadsheets and guesswork, so they can achieve results like never before.
Curious about upgrading your current systems to use the latest AI and technology? Keep reading to learn the most common types of construction estimates, how they work, and when to use them. We’ll also touch on how tech is reshaping building construction cost estimation—giving you a clearer path from bid to build with fewer surprises along the way.
If you’re in the corporate side of the construction industry you know cost estimates are a big deal—they’re what guide your planning, budgeting, and key decisions from start to finish. As a project moves forward, different types of estimates come into play, each offering a different level of detail and accuracy. Knowing which estimate to use (and when) helps everyone involved make smarter choices, avoid surprises, and keep the project running smoothly.
A solid construction estimate is made up of several key components that work together to give a clear picture of what a project will actually cost. Understanding each part helps teams plan smarter, while avoiding costly surprises.
By breaking down these components, your building construction cost estimation becomes more accurate and defendable. And with a platform like ALICE, these elements don’t just sit in a spreadsheet—they’re actively tied to your project’s real-world schedule, so you can make the best decisions every step of the way.
By leveraging tools like ALICE Technologies, construction professionals can enhance the accuracy and efficiency of these estimates, leading to better project outcomes.
Now that we’ve covered the core estimates used throughout the project lifecycle, we will break down some other types of construction estimates that serve specific purposes—especially on more complex builds.
Feasibility estimates, often used early in the process, help determine whether a project is even worth pursuing. They’re rough, high-level numbers that give owners and stakeholders a general idea of cost before any serious planning begins.
Preliminary estimates follow soon after and are based on early designs or conceptual plans. These are not highly detailed, but they’re more refined than feasibility estimates and are important when it comes to early budgeting and financing decisions.
Detailed estimates come into play once drawings and specifications are more complete. These involve accurate quantity takeoffs and break costs down by labor, materials, equipment, and more. They’re essential for both budgeting and competitive bidding.
Change order estimates are used when the scope of work shifts mid-project. Whether it’s an unexpected delay, a design tweak, or a materials upgrade, this estimate helps assess how the change impacts cost and schedule.
Each of these estimates plays a unique role. When used together—and powered by smart tools like ALICE—they give you a more flexible, accurate view of your project from start to finish.
Construction estimating isn’t just a one-time task. It’s a process that evolves as a project moves through each stage of development. Understanding the four key stages helps teams stay aligned, make better decisions, and encounter fewer surprises along the way.
Smart tools like ALICE harness the power of AI to connect each estimate to a real-world schedule. As a result, you create a clear roadmap for your project that’s flexible, accurate, and ready for whatever comes your way.
ALICE Technologies takes construction estimating to the next level by combining AI with real-time project data. Instead of relying on static spreadsheets, ALICE simulates thousands of build scenarios, helping you find the most cost-effective path forward. It integrates with your existing BIM and scheduling tools and adjusts estimates as project conditions change. That means you’re always working with the most accurate numbers. Whether you're bidding or building, ALICE helps reduce risk, save time, and stay on budget.
Book a demo to see how ALICE can transform your estimating process.