Construction Cost Estimating - Quality Cost Estimating
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How to Plan for Desired Cost Estimate Outcome High Quality Construction Cost Estimating
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Transcript of Construction Cost Estimating - Quality Cost Estimating
How to Plan for Desired
Cost Estimate Outcome
High Quality Construction Cost Estimating
What is the Cost Estimate Desired Outcome?
What is the Cost Estimate Desired Outcome?
1.Has to be COMPLETE
What is the Cost Estimate Desired Outcome?
1.Has to be COMPLETE2.Has to be DETAILED
What is the Cost Estimate Desired Outcome?
1.Has to be COMPLETE2.Has to be DETAILED3.Has to be VALIDATED
CompleteMissing scope is probably the
major risk for cost estimating.How do we mitigate this risk?
CompleteMissing scope is probably the
major risk for cost estimating.How do we mitigate this risk? Cost estimate development
planning
CompleteMissing scope is probably the
major risk for cost estimating.How do we mitigate this risk? Cost estimate development
planning Allocate proper resources to
complete the cost estimate
CompleteMissing scope is probably the
major risk for cost estimating.How do we mitigate this risk? Cost estimate development
planning Allocate proper resources to
complete the cost estimate Collect all relevant project
information
CompleteMissing scope is probably the
major risk for cost estimating.How do we mitigate this risk? Cost estimate development
planning Allocate proper resources to
complete the cost estimate Collect all relevant project
information Develop and review the Work
Breakdown Structure before starting any cost estimating activities
CompleteMissing scope is probably the
major risk for cost estimating.How do we mitigate this risk? Cost estimate development
planning Allocate proper resources to
complete the cost estimate Collect all relevant project
information Develop and review the Work
Breakdown Structure before starting any cost estimating activities
Implement take-off and cost estimating procedures that minimize the risk of errors
Detailed
A detailed cost estimate should provide the proper level of detail
to:
Detailed
A detailed cost estimate should provide the proper level of detail
to:
Validate scope completeness
Detailed
A detailed cost estimate should provide the proper level of detail
to:
Validate scope completeness Allow for desired reporting
Detailed
A detailed cost estimate should provide the proper level of detail
to:
Validate scope completeness Allow for desired reporting
Accommodate the high and detailed level cost reviews
Detailed
A detailed cost estimate should provide the proper level of detail
to:
Validate scope completeness Allow for desired reporting
Accommodate the high and detailed level cost reviews
Allow for data feed to the preliminary construction schedule
Detailed
A detailed cost estimate should provide the proper level of detail
to:
Validate scope completeness Allow for desired reporting
Accommodate the high and detailed level cost reviews
Allow for data feed to the preliminary construction schedule
Allow for data validation
Validated
A cost estimate should never be approved without the ability to validate the data within the cost estimate.
How do we validate cost estimate data?
Validated
A cost estimate should never be approved without the ability to validate the data within the cost estimate.
How do we validate cost estimate data? By developing a proper price sourcing
strategy
Validated
A cost estimate should never be approved without the ability to validate the data within the cost estimate.
How do we validate cost estimate data? By developing a proper price sourcing
strategy By comparison against existing, in-house
similar project cost data
Validated
A cost estimate should never be approved without the ability to validate the data within the cost estimate.
How do we validate cost estimate data? By developing a proper price sourcing
strategy By comparison against existing, in-house
similar project cost data By using commercially available similar
projects cost data
Validated
A cost estimate should never be approved without the ability to validate the data within the cost estimate.
How do we validate cost estimate data? By developing a proper price sourcing
strategy By comparison against existing, in-house
similar project cost data By using commercially available similar
projects cost data By consulting with construction professionals
within the company
Validated
A cost estimate should never be approved without the ability to validate the data within the cost estimate.
How do we validate cost estimate data? By developing a proper price sourcing strategy By comparison against existing, in-house
similar project cost data By using commercially available similar
projects cost data By consulting with construction professionals
within the company If there is data within the cost estimate which
cannot be validated, it should be registered as risk and priced accordingly.
Interested to learn more?Visit us at:http://www.Emeraldgroup-learning.cahttp://LearnCostEstimating.com
