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32 Cards in this Set
- Front
- Back
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The estimate is used by 3 people
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owner, designer, and the construction team
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The estimate is used to |
to ensure that cost information is developed and a feedback loop is created so that that the competing demands between size, quality, time, performance, and cost are addressed
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Estimates are a combination of |
science and art |
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Estimates are not a |
guarantee of costs or project satisfaction |
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An estimate is only as accurate as the |
information provided document completeness database accuracy skill and accuracy of the estimator |
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Estimate accuracy increases as |
the design becomes more precisely defined |
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Most estimates are based off |
previous projects estimates |
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What is the function of an estimate from the owner's perspective |
defines the affordability of the project provides a basis of selecting between multiple options of how to build the project |
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what is the function of the estimate from the designer's perspective |
Offers guidelines for what type of materials to order and what size the project should be As the project progresses it is used to check if the project is staying within budget Estimates must also be prepared by the trades to figure their bid prices The project management team prepares a bid to compare to the others |
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what is the function of the estimate from the field management's perspective |
Project manager uses this to define scope of work for each sub Create work packages Used as a planning tool, purchasing etc. estimate total quantity of work, hours, materials etc. |
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4 estimate considerations |
Project size quality location time |
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How is project size handled in an estimate |
depends on which stage the project is in, early on it will be based on basic capacity, later it will quantified more accurately. Principles of economies of scale should be considered when estimating large projects, cost not directly related to units |
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How project quality is handled in an estimate |
Sometimes quality is paramount, nuclear Expectation is as quality increases so does cost, but satisfaction increases at a lesser rate must compare to past projects to get a good estimate |
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How project location is handled in an estimate
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Haiti vs Manhattan Materials and equipment, logistics, labor availability and sophistication Partnering with local partners who are familiar with location |
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How project time is handled in an estimate
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A project is given at a specific point in time, after it has "expired" the contract must be rebid Past costs can be adjusted to current market costs to make an accurate estimate |
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What are some market conditions effecting estimates |
Strong or weak economy perceived value of the project reputation of the CM pricing strategy |
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3 types of estimates |
rough order of magnitude square foot/cubic foot assemblies |
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rough order of magnitude estimates |
During conceptual phases, very little know about project establishes cost per unit of capacity from historical data, 20% +/- Usually done in a few hours |
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Square foot or cubic foot estimates |
During schematic phase designers have produced floor plans, elevations, building volume which is multiplied by unit cost 15% +/- |
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Assemblies estimate |
Smaller units of estimation (roof, foundation, electrical system) More info goes into them so they are more accurate. 10% +/- |
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What breakdown system do companies use for an assemblies estimate |
Uniformat Allows them to breakdown smaller units within a larger unit and be more flexible due to a smaller system |
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Estimating during construction |
Most detailed estimate and most important If bid is accepted they are legally bound to price and scope of work |
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9 Elements of an estimate |
Organizing the estimate Quantity takeoff Unit Pricing Material costs labor costs equipment costs subcontract work overhead profit |
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Organization of the estimate |
complex task with most of information coming from the contract documents |
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Quantity takeoff |
determines the quantity of work needed every item is quantified and checklists are made |
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Unit pricing |
determine how much each of the units will cost to produce |
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Material Cost |
straight forward and determined by the suppliers |
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Labor costs |
Hourly rate and productivity must be considered as well as union rates Weather work stoppages |
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Equipment costs |
includes small tools Acquisition costs and operation costs |
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subcontract work |
estimator must be careful to separate work done by his crews and subcontractors |
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overhead |
cost associated with operating a job, labor, office, equipment |
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profit |
owners determine the profit margin to include in the estimate depends on goals and the current economic conditions |
