1.1 This classification provides a generic classification system for cost estimates and provides guidelines for applying the classification to cost estimates.

1.2 This classification maps the phases and stages of cost estimating to a generic maturity and quality matrix, keyed to a degre of project definition, that can be applied across a wide variety of industries.

1.3 The Cost Estimate Classification System has been developed in a way that:

1.3.1 provides a common understanding of the concepts involved with classifying cost estimates,

1.3.2 defines and correlates the major characteristics used in classifying cost estimates, and,

1.3.3 uses the degree of project definition as the primary characteristic used to categorize estimate classes.