What is one characteristic of a detailed estimate?

A detailed estimate is characterized by its role as the basis for contract and cost control. This type of estimate involves a thorough analysis of all project components, including materials, labor, overhead, and more. It provides a comprehensive breakdown of costs and ensures that all aspects of the project have been considered. As a result, stakeholders can use this detailed estimate to create contracts that reflect the true costs of the project, leading to precise budgeting and financial oversight throughout the construction process.

In a detailed estimate, the focus is on accuracy and specificity, allowing for effective financial management and helping prevent cost overruns. This level of detail is crucial in establishing a control mechanism for expenses, ensuring that the project stays on budget and meets financial objectives.