Which type of estimate is most appropriate when the contract documents are 100% complete?

A detailed estimate is most appropriate when the contract documents are 100% complete because it involves a thorough analysis of all project components based on the finalized plans and specifications. This type of estimate provides a comprehensive breakdown of costs, including materials, labor, equipment, and overhead, reflecting the exact requirements outlined in the completed documents.

With complete contract documents, a detailed estimate allows for precise calculations and a higher degree of accuracy, essential for creating a reliable budget and assessing project feasibility. This level of detail ensures that all necessary elements are accounted for, which is crucial for effective cost management and planning in construction projects.

Other types of estimates, such as cost indices, parametric, and conceptual estimates, serve different purposes and are typically used in earlier stages of project development or when complete information is not available. These methods rely on historical data, single-variable factors, or broad assumptions, which would not provide the accuracy needed when all contract details are finalized.