Conceptual and feasibility
Know whether a project pencils before the architect draws a single detail
The most consequential cost decision on a project is made when almost nothing is drawn: buy the land, commission the design, or walk away. A preliminary estimate gives you a defensible range from a program, a site and a sketch. We use cost per square foot, parametric and assembly models, carry explicit contingency and tell you plainly what the range means for a go or no-go decision.
- 5.0 Google
- 4.9 Trustpilot
- 4.9 Clutch
typical accuracy range for Class 4 conceptual estimates
Overview
What a preliminary estimate can and cannot tell you
A preliminary estimate is a cost forecast prepared before the design can support a measured takeoff. Under AACE International's classification it falls into Class 5, with less than 2% of design complete and a range of roughly -30% to +50%, or Class 4, with 1% to 15% complete and a range closer to -20% to +30%. The wide ranges are honest: the estimate depends on what the project will become. We also state which design decisions the number is most sensitive to, such as the structural system, number of floors and level of exterior finish.
We build the number from the information that exists. Early work uses cost per square foot from comparable buildings, adjusted for location, quality level, floor count and site conditions. As sketches firm up, we shift to assemblies, such as cost per square foot of exterior wall, per ton of structural steel, per bed or per key, which respond to design decisions instead of ignoring them. Each model is calibrated to completed projects of the same building type in your region, so the benchmark is local, current and traceable to real project data.
Contingency is shown, not hidden. Design contingency, escalation to the midpoint of construction and an allowance for unknowns each appear as separate lines. The report ends with a recommendation framed around the decision: does this project clear your return threshold at the high end of the range, and which scope drivers would move the number most? Where the range is too wide to support the decision, we say so and identify the cheapest piece of additional information, such as a soil boring or a massing study, that would narrow it.
Scope of takeoff
Inputs and cost elements we model
Each element is priced from the level of design information available and is tightened as the drawings develop.
- SF
Program and gross area
Net-to-gross ratios, floor count and efficiency assumptions from the owner's program
- $/SF
Cost per square foot benchmark
Comparable building costs adjusted for quality tier, location and market conditions
- SF / CY
Substructure and foundations
Footing and slab systems sized from assumed loads and geotechnical risk
- $/SF of wall / floor
Shell and superstructure
Frame, floors, roof and exterior enclosure by assembly
- $/SF
Interior construction and finishes
Partitions, doors, ceilings and floor finishes by quality grade
- $/SF
Mechanical, electrical and plumbing
Systems priced by watts per SF, tons per SF and fixture count assumptions
- SF / LS
Site and utilities
Grading, paving, utilities and landscape sized from site area and layout
- LS / $/SF
Special conditions
Demolition, hazardous abatement, difficult soils, historic requirements and phasing
- % / LS
General conditions and fees
Supervision, insurance, bonds, overhead and profit applied to direct cost
- %
Design contingency
Allowance for design development changes, tapering as documents progress
- % / YR
Escalation
Cost growth from estimate date to the midpoint of construction
- $
Range and go or no-go summary
Low, expected and high cost with the drivers most likely to move each
Estimate types
What type of preliminary estimating can you get?
Match the estimate to where your project is. Every option is priced as a flat fee before work begins.
- 01
Order-of-magnitude estimate
A single cost range from building type, area and location, prepared before any sketch exists.
Best for Early feasibility screening
PrecisionClass 5: -30% / +50%Turnaround24 hours - 02
Conceptual estimate
A parametric estimate from a program and massing sketch, with major systems priced by assembly.
Best for Owner budgets and land acquisition
PrecisionClass 4: -20% / +30%Turnaround2-3 days - 03
Feasibility study estimate
A cost model paired with pro forma inputs so a lender or investment committee can assess viability.
Best for Developers and lenders
PrecisionClass 4 rangeTurnaround3-5 days - 04
Alternative scheme comparison
Two or three design options priced on a common basis, showing the cost impact of each decision.
Best for Choosing between structural or massing options
PrecisionClass 4 relative accuracyTurnaround3-4 days - 05
Budget validation
An independent check of a design team's or contractor's early budget against benchmark data.
Best for Owners reviewing a first number
PrecisionClass 4 to 3Turnaround2 days
Why LEEDS
Why contractors switch to LEEDS
An estimating desk that behaves like an extension of your team, not a software subscription.
- 01
Every estimate is labeled with its AACE class and expected range, so you know how much weight the number can carry.
- 02
Models shift from cost per square foot to, assemblies as the design develops, which lets the estimate respond to real design decisions.
- 03
Contingency, escalation and risk allowances, appear as separate lines instead of being buried inside unit rates.
- 04
We price alternatives on a common basis so, choices like steel versus concrete frame are compared fairly.
- 05
Reports end with a plain recommendation on, whether the project clears your return target at the high end of the range.
- 06
Benchmarks come from completed projects of the same type and region, adjusted for quality tier and market conditions.
- 07
As the design advances, the preliminary estimate becomes the baseline for the detailed estimate, with variances explained.
Free quote
Get a fixed quote for this scope
Upload drawings or a plan link and tell us the bid date. A senior estimator confirms scope, price and delivery before any work starts.
- Scope confirmation and a fixed price within two business hours
- Most estimates delivered in 24–48 hours
- Unlimited revisions until bid day
- Plans stay confidential and are deleted on request
Prefer to talk? Call +1 (800) 555-0199 or email info@leedsestimating.com.
How our estimating process works
Four steps from upload to a bid-ready estimate, with a senior estimator signing off before anything leaves our desk.
- 1
Upload plans and scope
Send your drawings, specifications and bid invitation through the secure upload form. We confirm scope, deadline and a fixed price within two business hours.
- 2
Digital quantity takeoff
Estimators measure every item from calibrated plans in Bluebeam and PlanSwift, color-coding each layer so quantities can be traced back to the drawing.
- 3
Pricing and labor
Quantities are priced with location-adjusted material costs, crew productivity rates and equipment, then marked up to your overhead and profit targets.
- 4
Senior review and delivery
A second estimator audits quantities and pricing, documents assumptions and exclusions, and delivers your Excel workbook, PDF summary and marked-up plans.
Deliverables
What's included in your estimate package
Every deliverable is formatted so it can go straight into a proposal, a purchase order or an owner report.
- XLSX
Estimate workbook
Quantities, unit costs, labor hours and totals organized by CSI division, with subtotals, markups and a bid summary tab.
- PDF
Marked-up plans
Color-coded takeoff drawings showing exactly where every measured quantity came from.
- XLSX
Material procurement list
Consolidated material quantities with waste factors applied, ready to send to suppliers for quotes.
- XLSX
Labor hours by task
Crew-based labor hours and productivity rates so you can check the schedule against the estimate.
- PDF
Assumptions and exclusions log
Every clarification, allowance and exclusion documented so your proposal scope is defensible.
- PDF
Bid summary sheet
A proposal-ready one-page summary with overhead, profit, bonds and contingency applied.
Clients
Who relies on our estimates
From single-trade subs to national developers, every client gets the same measured-twice standard.
Developers & Owners
Feasibility budgets and bid reviews that tell you whether the numbers you are seeing are fair.
Architects & Engineers
Design-stage estimates at every milestone so value engineering happens before documents are finished.
Design-Build Firms
Conceptual through GMP pricing that moves as fast as your design iterations.
Construction Managers
Independent cost checks, change-order pricing and schedule-of-values support.
Lenders & Insurers
Replacement cost and draw-schedule estimates documented to underwriting standards.
FAQ
Preliminary Estimating FAQs
How accurate is a preliminary estimate?
It depends on how much design exists. Class 5 estimates, prepared with almost no drawings, run about -30% to +50%. Class 4 estimates from a program and sketch run closer to -20% to +30%. We state the class and range on every estimate, so you understand how much confidence the number deserves.
What information do you need to start?
Building type, approximate gross area, location, number of stories and desired quality level are enough for an order-of-magnitude figure. A site plan, massing sketch, program, geotechnical report or comparable project cost make the estimate tighter, and we tell you which items would most improve accuracy. We add notes on what would tighten the range.
Do you include land cost and soft costs?
Our standard estimate covers hard construction cost with contingency and escalation. On request we add soft costs such as design fees, permits, testing, furniture and financing carry, using percentages typical for the building type, so you see a full project budget alongside the construction number.
How much contingency should be carried?
Design contingency usually runs 15% to 25% at Class 5, falling to 10% or less at design development, with a separate allowance for escalation. We show both, explain the basis, and suggest where the percentage should drop as specific risks are resolved by design or investigation.
Can you compare two design options?
Yes. We price each scheme on the same basis and show the differences in structure, envelope, systems and site cost, so the comparison reflects design choices instead of pricing inconsistencies. Owners often use these comparisons to decide between a steel and a concrete frame, or a four-story and five-story scheme.
What happens to the estimate when design develops?
We update it at milestones, usually schematic design and design development, and show a variance report explaining what moved the number. This keeps the original budget as the baseline, so the design team and owner see the cost consequence of each decision as it is made.
Blog
Insights from the estimating desk
Practical guidance on bidding, takeoffs and protecting margin.
Related
Related estimating services
Most projects need more than one trade. Bundle them into a single upload and we price the whole scope together.
Ready for a preliminary estimating quote?
Upload your plans and get a fixed quote within 2 business hours. Most estimates are delivered in 24–48 hours.