What is the Cost Estimating Format?
The Cost Estimating Format (CEF) is a tool that may be used to estimate the cost of large permanent work projects. The CEF is a forward-pricing methodology developed by FEMA to more accurately estimate total project costs based on construction industry standards. Eligible costs are reimbursed for actual incurred expenses and final costs are reconciled based upon the underrun or overrun realized. By providing better up-front estimates for work that has not been substantially completed, use of the CEF will minimize the possibility of significant variances and allow you to budget project costs with greater confidence. The PO is responsible for application of the CEF.
