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Cost Proposal CONTROLLING COSTS When we participate in design -build contracts, it is our responsibility as the project manager to ensure that our team is designing the exhibits in such a way as to maximize the visitor experience while staying within the specified target production cost or "design -to" figure for the project. Before the project begins, we will clarify with the client what is included in the design -to figure. Depending on the project, the design -to budget may also include media development costs such as image acquisition, original artwork, or audiovisual and multimedia programs. To ensure that our team is staying within the given budget, we provide regular production cost estimates based on the detailed specifications submitted by our designer throughout the exhibit development process. As the planning and design work proceeds, our production cost estimates become increasingly more detailed to reflect the level of design progress. Our team will determine the estimates based on our professional experience with similar elements and by researching the cost of similar recent projects. We designate our exhibit production cost estimates as Class A, B, and C based on level of detail. Class B and C contain less detail and are more typically "allowances," while Class A is an accurate estimate based on detailed design specifications. We provide the Class C production cost estimate in the pre -design phase and it typically includes the total square feet of the exhibition space, overall exhibit cost and cost per square foot, and any early identified high -cost elements such as a large diorama or complex exhibit case. During the schematic I stage, we provide a Class B production cost allowance. This allowance consists of the estimated overall cost for each exhibit area identified in the exhibition plan. Once we get to the schematic II, design development I, and design development II phases, we provide continuously updated Class B production cost estimates. The updated cost estimates include a short description of proposed exhibits and major exhibit elements within each exhibit area, the cost associated with each proposed exhibit and / or exhibit element, and allowances for contingency, shipping, and installation as separate line items. Once we reach the production documents phase, we will provide a comprehensive Class A production cost estimate. The Class A estimate includes exhibition fabrication costs organized according to exhibit scene, content group, and exhibit elements within each content group. The estimate shows itemized material, labor cost, and mark-up costs on each element. We also include media costs for all content purchased specifically for the exhibition and not already accounted for in the exhibit planning and design budget, all graphic production costs, all av and lighting equipment costs, and exhibit installation cost. The Class budgets submitted in each stage of the project indicate what adjustments we need to make in order to stay within the design -to budget. Continuously providing estimation feedback to our designer and the client throughout the project allows us to ensure that we can address issues before they become a burden on the budget and/or the schedule. PR56 Reich&Petch SIGNS AND EXHIBITS