Pick up the correct reason for making conceptual (or preliminary) estimate from the following: A. To have a check on a definitive cost estimate B. To check quotations from contractors and/or sub-contractors C. To compute target estimate for the owner while drawing and specifications are in initial stage D. All of these

The correct answer is D. All of these.

A conceptual estimate is a rough estimate of the cost of a project. It is used to determine the feasibility of a project and to help the owner make decisions about the project. A conceptual estimate is typically prepared early in the project, when there is limited information available. It is based on the owner’s requirements and on the experience of the project team.

A conceptual estimate can be used for a variety of purposes, including:

• To check on a definitive cost estimate. A definitive cost estimate is a more detailed estimate that is prepared later in the project. A conceptual estimate can be used to check the accuracy of the definitive cost estimate.
• To check quotations from contractors and/or sub-contractors. A conceptual estimate can be used to compare the prices of different contractors and sub-contractors.
• To compute target estimate for the owner while drawing and specifications are in initial stage. A target estimate is a preliminary estimate of the cost of a
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  project that is used to help the owner make decisions about the project. A conceptual estimate can be used to compute a target estimate.

A conceptual estimate is not a definitive cost estimate and should not be used as such. It is important to note that a conceptual estimate is only as good as the information that is available when it is prepared. As the project progresses, more information will become available and the conceptual estimate can be updated.