What phase is characterized by the preparation of a revised construction cost estimate?

The phase characterized by the preparation of a revised construction cost estimate is the Design Development phase. During this stage, the concepts from the Schematic Design Phase are fleshed out with more detailed drawings and specifications. This increased level of detail allows for a more accurate assessment of construction costs.

In Design Development, the design team coordinates the various systems within the project, such as structural, mechanical, electrical, and plumbing systems. These refinements not only enhance the functionality and aesthetics of the design but also provide a clearer picture of the total cost involved for the project. As such, it is during this phase that stakeholders often revise construction cost estimates to reflect the more specific and comprehensive understanding of the project scope and requirements.

The other phases mentioned have different focuses: the Schematic Design Phase primarily involves the initial design concepts, while Construction Administration focuses on overseeing the construction process. Project Planning encompasses broader project strategies rather than detailed cost estimation.