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Parametric Cost Model

A group of Cost Estimating Relationships (CER) used together to estimate entire cost structures. These models are often computerized and may include many interrelated CERs, both cost-to-cost and cost-to-non-cost.  

For example:
  • The mechanical system is estimated to be 15% of the building construction value. The electrical is 10%, the structural is 22%, etc.
Parametric models are often used in software applications.

See also: