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Construction Cost and Market Factors

Construction Cost and Market Factors. Michael D Dell'Isola PE, CVS, FRICS Senior Vice President Faithful+Gould. Michael D Dell'Isola PE, CVS, FRICS Senior Vice President Faithful+Gould. Speaker Biography.

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Construction Cost and Market Factors

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  1. Construction Cost and Market Factors Michael D Dell'Isola PE, CVS, FRICS Senior Vice President Faithful+Gould Michael D Dell'Isola PE, CVS, FRICS Senior Vice President Faithful+Gould

  2. Speaker Biography • Michael D. Dell’Isola, PE, CVS, FRICSSenior Vice PresidentFaithful + Gould Orlando, Fl 32810 • Degree: • BSME • University: • Tufts University, Medford, Mass. • Years of Experience: • 40+ • Professional Field: • Cost management, value engineering, life cycle costing, technology and industry best practices • Practitioner, author, educator and speaker • Something you do not know about me: • An avid golfer and car nut. Construction Cost and Market Factors

  3. Background Construction Cost and Market Factors

  4. Today’s Presentation Construction Cost and Market Factors

  5. Economics, competition and price

  6. Economics and Price Construction Cost and Market Factors

  7. Construction Bidding and Estimating Construction Cost and Market Factors

  8. Construction Spending and the Cost of Projects

  9. Terrorist Attack Housing Downturn Recession Recession Construction SpendingJanuary 1977 to 2013 - Projected (Average annual, Millions) Construction Cost and Market Factors

  10. Materials Installation Equipment Purchase Cost Operations Cost Premiums Taxes Fringes Equipment Rental Shipping & Handling Taxes/Insurance Base Wages Breakdown of Construction Costs Total Costs Prime Contractor/CM Mark-up General Conditions Subcontractor Mark-up General Conditions Direct Costs Labor Construction Cost and Market Factors

  11. Factors Affecting Bidding Construction Cost and Market Factors

  12. Impact Construction Cost and Market Factors

  13. Effect of Competition on Prices Current Marketplace Bid Factor Number of Bids 2004 – 2008 Marketplace Source: Area Cost Factor Study, U.S. Army Corps of Engineers Construction Cost and Market Factors

  14. Relationship of Nonresidential Construction and GDP Construction Cost and Market Factors

  15. Regional Variations Construction Cost and Market Factors

  16. Summary – What drives volume and pricing Construction Cost and Market Factors

  17. Long Term Issues to Consider Construction Cost and Market Factors

  18. Examples

  19. Project Examples Construction Cost and Market Factors

  20. Projections

  21. US Economic Forecasts by e-forecasting U.S. Quarterly Forecast of GDP and Key Indicators June 2012 Construction Cost and Market Factors

  22. Construction Industry Statistics ("Statistics Brain" Website) Construction Cost and Market Factors

  23. Inflation, Escalation and Market Factors Construction Cost and Market Factors

  24. National Cost Indices Construction Cost and Market Factors

  25. Bidding Factors and budgeting projects Construction Cost and Market Factors

  26. Annual Nonresidential Spending versus Bidding Factor 1970 – 2011 (Projections through 2014) Construction Cost and Market Factors

  27. How will the market affect individual projects? Construction Cost and Market Factors

  28. Advice on budgeting and delivering projects

  29. Managing competition and dealing with low bids Construction Cost and Market Factors

  30. This process assumes one very important condition Construction Cost and Market Factors

  31. Conclusions Construction Cost and Market Factors

  32. Conclusions Construction Cost and Market Factors

  33. Discussion

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