Budget estimates prepared by "PAZ" Engineering encompass all the forecast capital costs associated with implementing the project, including: contractor assignments, purchase and acquisition, engineering services and associated professional services, project management, etc. The Company prepares budget estimates for the various stages of each project:

		During the Pre-Project phase, and concurrent to project implementation decisions.
		During the Pre-Engineering phase and after characterizing the project and determining its main components.
		During the various engineering stages, while maintaining close tab in order to detect potential budget deviations.
		While finalizing contracts with contractors, suppliers and manufacturers.
		Close budget supervision during the construction and purchase phases, in order to adhere to the agreed budget.
		Preparation of budget implementation reports, noting deviations and recommending ways to correct them.
		Intermediate and final budget/implementation comparison reports.

Budget estimates during their many stages are used as a management tool. Budget estimates also serve to find financing sources and are closely integrated with the project schedule.