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COST PLANNING PROCESS <br /> • The client has the building program <br /> prepared after the feasibility study <br /> Is completed. <br /> The cost consultant prepares the program <br /> budget and the project cost limits. <br /> The program budget is approved by <br /> the client and the architect. <br /> The schematic design is prepared by The first cost plan is prepared by the cost <br /> the architect (including design consultant based on the schematic design. <br /> alternatives). <br /> The architect prepares the detailed design within <br /> cost and program parameters. <br /> the first cost plan Is updated and detailed <br /> • elemental costs are determined. <br /> If design is within cost limits and If design exceeds cost <br /> meets program requirements: OR limits: <br /> Alternate designs are produced for elements <br /> over cost targets. <br /> Higher costs are accepted and the client's cost <br /> limits are revised. <br /> The architect prepares working <br /> drawings and specifications Interim cost checks are made <br /> (contract documents). by the cost consultant. <br /> If over cost limits revise contract Final cost estimate by the <br /> documents. cost consultant. <br /> • <br /> Proceed to bid project. <br /> 1 <br />