What is an AACE estimate class?
AACE estimate classes (Class 5 to Class 1) describe how mature and accurate an estimate is, based on how complete the project's design is.
A Class 5 estimate is early and rough (wide accuracy range); a Class 1 is detailed and tight, built from near-complete documents. The class sets honest expectations for how much the final cost could vary.
Stating an estimate's class and accuracy range — rather than a single false-precision number — is a hallmark of a professional estimate.
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