Create the base carefully
Start from a comparable estimate or cost database record with defined inclusions, location, and pricing date. A weak base cannot be repaired by a location factor.
Replace factors with quotes as design develops
Use broad adjustments only during feasibility. As quantities and specifications become known, obtain supplier and subcontractor input for the actual market.
Document confidence and contingency
State which costs are quoted, benchmarked, or assumed. Carry contingency that matches design maturity and unresolved local risk.