Estimating involves providing an accurate projection of construction costs for the building. It is created by calculating the estimated cost for each aspect of the building as per the design documents and is completed during the design development stage. Estimating ensures a budget is set and agreed upon by all parties involved in the building project.

Cost planning is used during the project as a way of controlling the estimated costs during the design and construction phases of a project.

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Three advantages of cost planning during design are:

1. Provides the client good value for money.
2. Achieves the balance of expenditure between the different building elements.
3. Keeps the expenditure within the budget allowed by the client.