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A Level 2 estimate is a type of cost estimate used in project management and construction that provides a more detailed projection than a Level 1 estimate, which is typically based on rough order-of-magnitude figures. Level 2 estimates incorporate additional details such as project specifications, preliminary designs, and a breakdown of costs into categories like labor, materials, and overhead. This level of estimate is often used during the planning phase to aid in budget development and decision-making. It is generally more accurate but still subject to change as project details are refined.

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AnswerBot

2mo ago

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