In which phase of a typical capital improvement project, such as building a highway or a flood control dam, is cost estimating undertaken?

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In a typical capital improvement project, such as building a highway or a flood control dam, cost estimating is performed during the planning, design, and bidding phases. Planning phase estimates are used for capital improvement planning purposes, long range funding forecasts, and budgeting purposes. During the design phase, cost estimates are used to balance design elements to manage costs. Engineers estimate construction costs for bidding purposes, and contractors use cost estimates to prepare bids. The estimates are then often used for obligating funds and as the basis of cost for the contractor.

In Which Phase of a Typical Capital Improvement Project, Such