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Comprehensive Sources of Estimation Data for Construction Cost Analysis

This document outlines various sources for construction cost estimation data, focusing on a company's own historical cost data, commercial cost books, published data, prototype modeling, professional associations, and previous bid tabulations. Each source is evaluated for its advantages, such as the reflection of a company's specific productivity and management efficiencies, as well as limitations like the potential inaccuracy due to outdated information or average data. This comprehensive approach aids estimators in accurately forecasting project costs.

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Comprehensive Sources of Estimation Data for Construction Cost Analysis

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  1. SOURCES OF ESTIMATION DATA

  2. 1. Companys Own Cost Data From Previous Projects • Advantages • It reflects quality and productivity of its own equipment and crews. • It reflects company’s management system and construction methods. • Limitations • Accurate field information should be collected and updated.

  3. Company's Historical Data Div. Work Desc. Unit Low Avg. High 2 Site work sf 0.30 0.35 0.39 2 Excavation cy 3.56 4.57 4.93 3 Formwork sfca 2.56 2.71 3.11 3 Reinforcement lb 0.35 0.38 0.42 4 Masonry (...) sf 5.82 6.21 7.34

  4. SOURCE OF COST DATA (Cont.) 2. Commercial cost books • published and updated periodically • contain specifications, labor rates, labor productivity, prices, photos, calculations, etc. The most common references are: • Means Building Construction Cost Data , R.S. Means Company • Dodge Manual, McGraw-Hill Cost Information Systems • Walker Building Estimator’s Reference Book, Frank R. Walker Company

  5. Limitations of Commercial Cost Books • They represent composite data (average of man projects) • They fail to recognize technological changes • There is a reporting time lag.

  6. SOURCE OF COST DATA (Cont.) 3. Published Data These guides are valuable to estimator who do not have access to actual job records. Vendor's Data information published by the manufacturer or distributor which usually gives the unique features and specifications relating to the product e.g. Sweet's catalog Periodicals gives various construction cost indices for all cites all over North America. e.g. Engineering News Records (ENR)

  7. 4. Prototype Modeling • Build a model for unique work where no published literature are available, • examples: spread concrete on an airfield parking ramp or mock up for building facade 5. Professional Associations • American Association of Cost Engineering AACE • National Estimating Society *Seminars, training organizations, publications

  8. 6. Previous Bid Tabulations • Available from previous bid openings (public works) • Generally, limited to the lowest three bidders

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