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CO$T ESTIMATING

CO$T ESTIMATING. Why Cost Estimating?. Budget Control Contractor Ratification Defense. Project Budgets. No Easy Method for Establishing Usually Prepared Before: there is a definitive project design good information on construction costs. Realistic Project Budgets.

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CO$T ESTIMATING

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  1. CO$T ESTIMATING

  2. Why Cost Estimating? • Budget Control • Contractor Ratification • Defense

  3. Project Budgets • No Easy Method for Establishing • Usually Prepared Before: • there is a definitive project design • good information on construction costs

  4. Realistic Project Budgets • Project Scope Stage Set By: • gross built floor area from accurate functional space requirements, including allowances for circulation, mechanical and electrical equipment, custodial space, and other non-usable areas • volume • occupancy type & number of occupants • included equipment & furnishings • soft costs: fees, financing and other development costs

  5. Other Critical Budget Factors • Quality and Performance Levels • Site – straightforward or complex • Schedule • Accelerated schedules - $$$$$ • Winter construction - $$$$$ • Broad Conceptual Statement – key design and budget assumptions • Contingencies – design & construction

  6. Contingencies • Conceptual Phase 20% • Schematic Phase 15% • Design Development 10% • Final Working Drawings 3%

  7. Special Estimating Challenges • Renovations and Alterations • availability of as-built drawings • condition assessment • updating to current codes & regulations • continued occupancy during alterations • unforeseen structural changes • Extent of exterior envelope renovations and alterations • contractor access to space and staging areas • International Projects

  8. What’s Behind the Numbers? • Material Costs • Labor Costs • Equipment Costs • Overhead and Profit • General Conditions • Taxes

  9. Factors Affecting Costs • Quality • Overtime • Productivity • Size of the Project • Location

  10. Other Factors • Season of Year • Contractor Management • Weather Conditions • Local Union Restrictions • Building Code Requirements

  11. Other Factors • Availability of: a) adequate energy b) skilled labor c) building materials • Owner’s Special Requirements • Safety Requirements • Environmental Considerations

  12. Unpredictable Factors • General Business Practices Influence “in place” costs • Substitute Materials & Construction Methods Impact: a) installed costs b) life cycle costs • Safety Requirements • Environmental Considerations

  13. Owner’s Cost ? • Permits • Insurance • Testing and Inspections • Utilities

  14. What are the Methods ? • Unit Price Method • Square Foot Method • Cost Indexes

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