The statement is False. A definitive estimate should be the least accurate of the three types of estimates.
A basis of Estimate (BOE) is an analyzed and punctiliously calculated number that may be used for proposals, bidding on authorities contracts, and executing a project with a fully calculated price range.
The motive of an estimate has distinctive which means distinguishing human beings concerned with the technique. To the proprietor, it gives an inexpensive, accurate concept of the costs. This can assist him or she determine whether or not the work can be undertaken as proposed, wishes to be modified, or should be deserted.
The estimate is prepared by using calculating the portions from the dimension at the drawings for numerous objects required to complete the assignment and extended by way of the unit value of objects worried. Reason for Estimates: To recognize the amount of money required to complete the proposed paintings.
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