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Attachment PM15INDEPENDENT COST ESTIMATE (ICE) FORM SHADED AREA FOR PROCUREMENT USE ONLY Project Name & Title Purchase Requisition (PR)#Assigned Buyer # D/M/WE NEW CONTRACT/PROCUREMENT EXPIRING CONTRACT

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How to fill out independent cost estimate ice

01

Step 1: Identify the project scope and objectives.

02

Step 2: Gather all necessary data and documentation related to the project, such as project plans, specifications, and cost data.

03

Step 3: Break down the project into individual work items and estimate the quantity and units of each item.

04

Step 4: Determine the cost of labor, materials, equipment, and any other direct costs associated with each work item.

05

Step 5: Calculate indirect costs, such as overhead and contingencies, and add them to the direct costs.

06

Step 6: Review and validate the estimate for accuracy and completeness.

07

Step 7: Present the independent cost estimate to relevant stakeholders for review and approval.

Who needs independent cost estimate ice?

01

Independent cost estimate (ICE) is usually required by government agencies, particularly in the context of public procurement.

02

Project owners and managers may also use ICE to assess the reasonableness of contractor proposals.

03

Consultants, engineers, and cost estimators involved in project planning and management rely on ICE to evaluate project feasibility and budget allocation.

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What is independent cost estimate ice?

Independent Cost Estimate (ICE) is an unbiased and objective assessment of the expected costs of a project.

Who is required to file independent cost estimate ice?

Contractors, project managers, and other stakeholders involved in a project are required to file the Independent Cost Estimate ICE.

How to fill out independent cost estimate ice?

To fill out an Independent Cost Estimate ICE, the individual must gather relevant cost data, analyze the cost drivers, and document the rationale behind the estimated costs.

What is the purpose of independent cost estimate ice?

The purpose of Independent Cost Estimate ICE is to provide an independent assessment of the project costs to ensure accuracy and prevent cost overruns.

What information must be reported on independent cost estimate ice?

Independent Cost Estimate ICE must include detailed cost breakdowns, assumptions, risk assessments, and justification for the estimated costs.

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