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<br />I <br />I <br />,I <br />I <br />II <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />6.1.3 ENGINEERING <br /> <br />Engineering design and service during construction are estimated at 20 percent of the <br />construction cost. Engineering costs for small projects can be expected to be a higher <br />percentage of construction cost than for large projects. <br /> <br />6.1.4 CONTINGENCY <br /> <br />The contingency Is estimated to be 20 percent of the construction and engineering <br />costs. The contingency is intended to include possible additional construction costs that <br />cannot reasonably be foreseen in preparing the cost estimates. Future construction <br />market conditions, including both construction cost and the competitive environment at <br />the time of bidding cannot be accurately estimated. In addition, additional work items <br />are frequently developed as a part of final project design. <br /> <br />6.1.5 PROJECT PRICE ESCALATION <br /> <br />I n the absence of specific schedules for construction, an example cost escalation has <br />been calculated. The example gives the cost escalations that would occur if Option 1. - <br />Downstream drainage Construction is carried out in 1992, and if the additional work <br />needed for Option 2 - Partial Depth Slurry Wall (Low cost estimate iC) modified) is <br />constructed in 1995. The escalation amounts on Table 6.1 Project Cost Summary, are <br />included only as an indication of the order of magnitude of such costs. They should <br />be recalculated whenever a specific schedule is known. <br /> <br />6-3 <br />