ESTIMATE REPORT

Project Name

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[version]

COMMERCIAL IN CONFIDENCE

Document Control

Amendments will be recorded on this Document Control Sheet.

Version Number	Document Status	Effective Date	Produced By	Reviewed By	Approved By

Acronyms & Abbreviations

Acronym / Abbreviation	Term
BCR	Benefit Cost Ratio
IE	Implementation Estimate
CI	Cost Indices
CPM	Waka Kotahi Contract Procedures Manual (SM021)
DBC	Detailed Business Case
DBE	Detailed Business case Estimate
FWCP	Forward Capital Works Programme (now 10 Year Forecast)
IBC	Indicative Business Case
IBE	Indicative Business case Estimate
LTPP	Waka Kotahi Long Term Procurement Plan
MBCM	Waka Kotahi Monetised Benefits and Cost Manual
NLTP	National Land Transport Programme
NOR	Notice of Requirement for Designation
NZUP	New Zealand Upgrade Programme
PBC	Programme Business Case
PBE	Programme Business case Estimate
PE1	Pre-implementation Estimate 1
PE2	Pre-implementation Estimate 2
PPPM	Waka Kotahi Planning, Programme and Funding Manual
SAP	Systems, Applications and Products in data processing (Waka Kotahi’s business information system)
SEP	Schedule of Elemental Prices
SSBC	Single Stage Business Case

Contents

1	Document Control	2

2	Acronyms & Abbreviations	2

4	Executive Summary	4

5	Scope & Functionality	5

5.1	Purpose	5

5.2	Project Scope Definition	5

5.3	Introduction	5

6	Basis of Estimate	6

6.1	Assumptions & Clarifications	6

6.2	Inclusions	6

6.3	Exclusions (with commentary on how they can be managed)	6

6.4	Information Reviewed	6

6.5	Identified Principal Uncertainties	6

6.6	Estimate Approach	6

7	Sensitivity Analysis	7

8	Contingency and Funding Risk	7

9	Peer Review Reconciliation	7

10	Parallel Estimate Reconciliation	7

11	Previous Estimate Reconciliation	7

12	Appendices	8

12.1	Appendix A – Estimate	9

12.2	Appendix B – Previous Estimate Reconciliation	10

12.3	Appendix C – Risk Register (Z/44)	12

12.4	Appendix D – Risk Adjusted Programme	13

12.5	Appendix E – Peer Review	14

12.6	Appendix F – Parallel Estimate	15

12.7	Appendix G – Quantitative Risk Analysis (QRA) (if applicable)	16

12.8	Appendix H – Quality Assurance	17

12.9	Appendix I – Project Scope Definition	18

12.10	Appendix J – Project Cost Control Schedule	19

12.11	Appendix K – Cost Control Record Form	20

Executive Summary

[Estimator’s commentary]

Item	Description	Total ($)
1	Property Costs
2	Consultancy Fees
3	Waka Kotahi Managed Costs
4	Physical Works
Project Base Estimate
5	Contingency (P50)
Project Expected Estimate
6	Funding Risk Contingency (P95)
95th Percentile Project Estimate

The Project Estimate Choose an item. accompanied by Form G (Waka Kotahi Managed Costs), Form H (Total Property Costs) and Form I (Consultancy Fees) can be found within Appendix A of this report.

A full elemental breakdown of the Physical Works can be found within Appendix A of this report.

[Estimator to confirm the estimate has been compiled in accordance with SM014]

Scope & Functionality

Purpose

The Principal objective of this report is to articulate the status of the total project cost. The project phase and estimate type is as follows:

Project Phase	Activity	Estimate Type
Choose an item.	Choose an item.	Choose an item.

Refer to the Cost Estimation Manual (SM014) for definition of the above categories.

Project Scope Definition

Refer Appendix I in this report.

Introduction

[Insert Company Name], have [provide commentary on what has been commissioned and for what project, including the purpose of the estimate]

The entire Choose an item. has been included in Appendix A of this report.

Finally, whilst this report reflects the scope as defined in the report, specific attention should be drawn to the Cost Conditioning section of this report.

Please note all figures in this report are in NZ$ and exclude GST.

Basis of Estimate

Assumptions & Clarifications

[Estimator’s commentary]

Inclusions

[Estimator’s commentary]

Exclusions (with commentary on how they can be managed)

[Estimator’s commentary]

Information Reviewed

[Estimator’s commentary]

Identified Principal Uncertainties

[Estimator’s commentary]

Estimate Approach

Methodology

[Estimator’s commentary]

Contractor’s Onsite Overheads

[Estimator’s commentary]

Contractor’s Offsite Overheads & Profit

[Estimator’s commentary]

Contractors Design and Construction Phase Services (where applicable)

[Estimator’s commentary]

Contingency

[Estimator’s commentary]

Escalation

[Estimator’s commentary]

Sensitivity Analysis

[Provide analysis in accordance with SM014 clause 9.5]

Contingency and Funding Risk

Estimating Uncertainty & Project Risks

Top 5-10 Risks with the largest influence on the Contingency and Funding Risk (these risks present opportunities to control and reduce costs if mitigated or managed)

Programme Risks

Top 5-10 Risks with the largest influence on the Contingency and Funding Risk (these risks present opportunities to control and reduce costs if mitigated or managed)

Peer Review Reconciliation

[Provide commentary on reconciliation process and the outcome, with the External Peer Reviewer (completed by representative receiving the reconciliation)]

Parallel Estimate Reconciliation

[Provide commentary on reconciliation process and the outcome, with the External Parallel Estimator (completed by representative receiving the reconciliation)]

Previous Estimate Reconciliation

[Refer to Appendix B of this report]

Appendices

Appendix A – Estimate

Project Estimate Choose an item.

Form G (Waka Kotahi Managed Costs)

Form H (Total Property Costs)

Form I (Consultancy Fees)

Appendix B – Previous Estimate Reconciliation

[Insert Estimate Type]	[Insert Estimate Type]
Item	Description	Total ($) [A]	Total ($) [B]	Variance ($) [C=B-A]	%	Reason for Variance
1	PROPERTY
1.1	Property Purchase and Compensation Costs
1.2	Property Owner Accommodation Works
1.3	Property Consultancy Fees
2	PROJECT DEVELOPMENT PHASE
2.1	Consultancy Fees
2.2	Waka Kotahi Managed Costs
3	PRE-IMPLEMENTATION PHASE
3.1	Consultancy Fees
3.2	Waka Kotahi Managed Costs
4	IIMPLEMENTATION PHASE
4.1	Consultancy Fees
4.2	Waka Kotahi Managed Costs
Physical Works
4.3	Environmental Compliance
4.4	Earthworks
4.5	Ground Improvements
4.6	Drainage
4.7	Pavement and Surfacing
4.8	Bridges
4.9	Retaining Walls
4.10	Traffic Services
4.11	Utility Services
4.12	Landscaping
4.13	Traffic Management
4.14	Preliminary and General
4.15	Extraordinary Construction Costs
Project Base Estimate
5	Contingency (P50)
Project Expected Estimate
6	Funding Risk Contingency (P95)
95th Percentile Project Estimate

Appendix C – Risk Register (Z/44)

[Provide Risk Register Z/44 in accordance with SM014 clause 10.1.5]

Appendix D – Risk Adjusted Programme

[Provide Risk Adjusted Programme in accordance with SM014 clause 10.1.5]

Appendix E – Peer Review

[Provide Peer Review in accordance with SM014 clause 12]

Appendix F – Parallel Estimate

[Provide Parallel Estimate in accordance with SM014 clause 12]

Appendix G – Quantitative Risk Analysis (QRA) (if applicable)

[Estimator to refer SM014 clause 9.3.1 for requirements of “Advanced” approach]

Appendix H – Quality Assurance

[Provide Internal Peer Review in accordance with SM014 clause 12.2]

Appendix I – Project Scope Definition

[Provide Project Scope Definition in accordance with SM014 clause 13.2.1 - Appendix E]

Appendix J – Project Cost Control Schedule

[Provide Project Cost Control Schedule in accordance with SM014 clause 13.2.1 – Appendix E]

Appendix K – Cost Control Record Form

[Provide Cost Control Record From in accordance with SM014 clause 13.2.1 – Appendix E]