What does a Class 3 Estimate typically correspond to in terms of project definition level?

What does a Class 3 Estimate typically correspond to in terms of project definition level?

• A. 10% to 40%
• B. 30% to 70%
• C. 1% to 15%
• D. 50% to 100%

Answer: (A)

A Class 3 Estimate is typically associated with a project that has a defined scope and a moderate amount of detail, generally ranging from 30% to 70% project definition. This level of estimate is often used during the early phases of a project when there is a reasonable amount of information available to create a budget but not enough for precise calculations. Such estimates are valuable when a project is moving towards more detailed design and planning phases, allowing stakeholders to understand financial implications and make informed decisions. Additionally, Class 3 Estimates are appropriate for feasibility studies and budgeting purposes, providing a solid foundation as the project definition evolves. In contrast, the other ranges presented do not align with the established definitions for Class 3 Estimates. The percentages that indicate lower project definition levels suggest either less certainty or are less detailed than typical Class 3 benchmarks.

A Class 3 Estimate is typically associated with a project that has a defined scope and a moderate amount of detail, generally ranging from 30% to 70% project definition. This level of estimate is often used during the early phases of a project when there is a reasonable amount of information available to create a budget but not enough for precise calculations.

Such estimates are valuable when a project is moving towards more detailed design and planning phases, allowing stakeholders to understand financial implications and make informed decisions. Additionally, Class 3 Estimates are appropriate for feasibility studies and budgeting purposes, providing a solid foundation as the project definition evolves.

In contrast, the other ranges presented do not align with the established definitions for Class 3 Estimates. The percentages that indicate lower project definition levels suggest either less certainty or are less detailed than typical Class 3 benchmarks.