Job Order Contracting

MAY 24, 2023

Construction Cost Estimating Facts Construction Cost Estimating Facts #1 There is no such thing as an “accurate cost estimate” Beware of any so called expert, estimating firm, or vendor using the term. #2 2 Construction cost estimating is NOT an art.

Estimating 218

Estimating Construction Defense Change Orders 218

Job Order Contracting

JANUARY 30, 2024

While construction cost factors are used for estimating project costs, there are several challenges and potential problems associated with their use. Here are some common issues: Regional Variations: Construction cost factors rely on regional averages.

Construction 174

Construction Estimating Accounting Innovation 174

Construction Business Owner

SEPTEMBER 22, 2022

Learn how to use job costing to steer the financial success of your business. Job costing excellence is at the core of high-performing construction companies. Job costing measures the success throughout the job and provides insight into its future profitability. The different types of costs and their role in job costing.

Work in Progress 296

Work in Progress Construction Profitability Equipment 296

Job Order Contracting

AUGUST 15, 2023

Construction Cost Data Integrity is one of the most overlooked items in preparing a detailed Scope of Work. 2 Current, Local Market Information All construction cost data should be researched per the associated cite. . #2 million data elements is Four BT, LLC.

Construction 204

Construction CSI Architecture Procurement 204

Job Order Contracting

MAY 5, 2023

Construction cost management capabilities are critical to the success of any repair, renovation, maintenance, or new build activity. That said 80%+ of all projects are late or overbudget largely due to an inadequately detailed and poorly communicated Scope of Work (SOW) and associated cost estimate. contact-form] www.4bt.us

Management 208

Management Procurement Estimating Construction 208

Job Order Contracting

SEPTEMBER 8, 2023

Defining a credible cost estimate is an important step towards improving construction outcomes. The vast majority of “construction failures”, delays, cost overages, etc., are due to an inadequately defined Scope of Work and an associated lack cost visibility. Learn more here… or ask a question.

Estimating 185

Estimating Construction Renovating Products 185

Job Order Contracting

MARCH 30, 2022

Valid construction cost estimate creation is the goal of every professional estimator. Using the final construction cost, for example, is just plain silly as there are far too many variables involved in the outcome. Nonetheless validity of a construction cost estimate is critical to cost management.

Estimating 248

Estimating Construction Procurement Overhead 248

Job Order Contracting

JUNE 1, 2022

Construction Cost Estimating Factors 2022 – Construction Cost Estimating Factors that determine validity, transparency, and level of cost management capability. Technical and cost visibility and transparency. contact-form] The post Construction Cost Estimating Factors appeared first on 4BT.

Estimating 227

Estimating Construction Procurement Architecture 227

Job Order Contracting

AUGUST 3, 2022

Accuracy is a very common term used in describing the primary attribute required in construction cost estimates. The use of the term accuracy in concert with a construction cost estimate is questionable is questionable at best but is sheer lunacy if the standard is the final construction cost!

Estimating 202

Estimating Construction Procurement Renovating 202

Job Order Contracting

APRIL 26, 2022

Unit price construction cost estimating is the foundation of every reliable cost determination prior to procurement. Unit price construction cost estimating is the foundation of every reliable cost determination. Unit price construction cost estimating is the foundation of every reliable cost determination.

Estimating 238

Estimating CSI Procurement Construction 238

Job Order Contracting

SEPTEMBER 18, 2023

Objective, reliable, and veriable Construction Cost Estimates are critical to best value outcomes for all repair, renovation, maintenance, and new build activities. Costs must be current, objective, and locally reserached. Costs must be current, objective, and locally reserached. expanded CSI Masterformat ). #5

Estimating 201

Estimating Construction CSI Compensation 201

Job Order Contracting

MAY 16, 2022

Valid construction cost information has a sound basis in logic or fact, reasonable, cogent, well-grounded, justifiable, and appropriate to the end in view. Robust management of construction project information is central to the consistent achievement of best value outcomes. contact-form].

Construction 233

Construction Foundation Equipment Materials 233

Job Order Contracting

JUNE 23, 2022

Looking for locally researched current detailed construction cost data? The post 2022 Construction Materials Costs appeared first on 4BT.

Materials 211

Materials Construction 211

Job Order Contracting

MAY 11, 2022

Add local construction cost data insights into your facilities repair, renovation, maintenance, and new build planning, procurement, and project delivery activities, and gain 30%-40% greater cost visibility. contact-form] The post Construction Cost Data Insights appeared first on 4BT.

Construction 221

Construction Procurement Renovating Plans 221

Job Order Contracting

JULY 14, 2021

Actionable construction cost data is required to assure financial visibility and transparency and to create a detailed, well-communicated scope of work. Actionable cost data is critical for successful …. Forecasting cost of future projects. Cost comparisons. Monitoring and controlling of construction cost.

Construction 264

Construction Estimating Comparison Forecasting 264

The Constructor

JUNE 16, 2022

Hard costs in construction cost estimation are the costs of physical construction elements like foundations, superstructure, interior finishes,

Estimating 226

Estimating Construction Foundation Engineering 226

Job Order Contracting

MAY 27, 2023

LOCALLY RESEARCHED & Up to Date Unit Price Construction Cost Data available exclusively from 4BT (Four BT, LLC)! Line item cost data representing local market conditions. No use of location factors or economic factors – actual local market labor, material, and equipment costs.

CSI 195

CSI Construction Equipment Materials 195

Job Order Contracting

MAY 21, 2022

Effective construction cost estimating must be done at a detailed line-item level using local market data. contact-form] The post Effective Construction Cost Estimating appeared first on 4BT. Learn more?

Estimating 231

Estimating Construction 231

Job Order Contracting

MAY 4, 2023

The validity of a construction cost estimate, the most important aspect, is often overlooked and resulting in billions of dollars was every year. A construction cost estimate must be independently validated. Key Principles There are key principles that should be adhered to when preparing a construction cost estimate.

Estimating 196

Estimating Construction Risk Documentation 196

Job Order Contracting

JULY 29, 2022

The reality of construction cost management is that it is impossible without visibility. Over 95% of ALL repair, renovation, maintenance, and new build projects lack cost visibility. The post The Reality of Construction Cost Management appeared first on 4BT.

Management 220

Management Procurement Construction Renovating 220

Job Order Contracting

FEBRUARY 5, 2021

Construction cost knowledge management is a component of integrated LEAN construction planning, procurement, and project delivery. The transfer of cost knowledge is essential at a granular, task level. The use of national average cost databases and/or location factors, or parametric cost models are insufficient.

Management 260

Management Construction Procurement Defense 260

Job Order Contracting

JUNE 2, 2022

Construction Cost Management = Transparency and Credibility. Is your construction cost estimate… Comprehensive? Technical and cost visibility and transparency. The post Construction Cost Management = Transparency and Credibility appeared first on 4BT. Well-documented? CORE PRINCIPLES.

Management 216

Management Estimating Procurement Construction 216

Job Order Contracting

MARCH 3, 2022

Savvy owners and design builders know how review construction cost estimates. The process is collaborative and involves cost estimators, facilities management, and procurement professionals. The post How to Review Construction Cost Estimates appeared first on 4BT.

Estimating 210

Estimating Construction Procurement Regulation 210

Job Order Contracting

AUGUST 17, 2023

Controlling construction costs is not rocket science, nor does it involve time travel. Any real property owner can control construction costs for facilities repair, renovation, maintenance, and new build projects. Controlling Construction Costs is not rocket science 1.

Travel 177

Travel Construction CSI Subcontracting 177

Job Order Contracting

SEPTEMBER 30, 2022

Current Construction Cost Data CSI Masterformat is now more important than ever. 4BT exclusively offers locally researched construction cost data that is updated quarterly. Granular line-item construction cost data with labor, material, equipment, and productivity information.

CSI 201

CSI Life Cycle Construction Renovating 201

The Constructor

JULY 24, 2022

The cost of construction of a project is the primary concern for most clients. Frequently, they ask about the cost of the project and whether construction work can be executed at a lesser price or not. This question can be answered by several interlinked factors that control the entire cost of a construction project.

Construction 230

Construction Engineering Management 230

Job Order Contracting

FEBRUARY 27, 2021

2021 Construction cost data that is verifiable, locally researched, and fully transparent, for when actionable information is important. ACTIONABLE CONSTRUCTION COST DATAA. Four BT, LLC, Open Cost TM locally researched detailed unit price cost data.

Construction 206

Construction 206

Job Order Contracting

MAY 21, 2022

There is only one sole source of truth for construction cost estimating, locally researched detailed line-item unit price data and associated quantities. Any owner, designer, builder who is not observing this fact has limited cost visibility and is likely to be “off” by 30%-40% or more.

Estimating 227

Estimating Construction Defense Risk 227

Construction Business Owner

FEBRUARY 28, 2023

2023 Construction Cost Trends: Insights & Impacts A webinar covering historical & current costs trends & how they are impacting building projects mhodges Tue, 02/28/2023 - 08:45 Between cost volatility, resource constraints and supply chain hiccups, the construction industry has been on an unpredictable, two-year rollercoaster ride. Here’s

Life Cycle 156

Life Cycle Construction Defense Budgeting 156

Job Order Contracting

MARCH 2, 2021

2021 Construction Materials Cost Increase was reflected by nearly 5% on a January look back versus past twelve months. The post 2021 Construction Materials Cost Increase appeared first on 4BT.

Materials 236

Materials Construction 236

The Constructor

MARCH 24, 2023

But taking measures to prevent flood damage can help protect your construction project from costly repairs and provide peace of […] The post Avoiding Costly Flood Damage in Your New Construction Project appeared first on The Constructor.

Construction 221

Construction Safety 221

Job Order Contracting

FEBRUARY 2, 2023

Construction costs increased an average of 8%-10% from 2022 to 2023 via Four BT, LLC – Verifiable, locally researched unit price cost data for repair, renovation, maintenance, and new builds. The post Construction Costs – Market Update appeared first on 4BT.

Construction 130

Construction Renovating 130

Job Order Contracting

MARCH 23, 2022

Understanding the value of a locally researched detailed construction cost database is important to any real property owner, architect, engineer, or builder. Construction Cost Data. Construction Cost Changes. It is important to recognize the importance of detailed line item UPBs and furthermore that 1.)

Construction 219

Construction Procurement Renovating Change Orders 219

Job Order Contracting

JULY 24, 2023

The ONLY cost estimating solutions with C URRENT, LOCAL MARKET, LINE ITEM construction cost data! contact-form] The post Take CONTROL of your CONSTRUCTION COST ESTIMATING appeared first on 4BT. Estimate FASTER and with CONFIDENCE!

Estimating 131

Estimating Construction 131

Job Order Contracting

APRIL 3, 2021

MasterFormat Construction Cost Estimating drives cost visibility, transparency, and best value outcomes. It is critical that cost data is locally researched, current, and is composed of elements suitable for your specific purpose. “ By definition, a construction cost estimate is an approximation.

Estimating 168

Estimating Construction Procurement Renovating 168

The Constructor

JULY 30, 2022

The cost of construction materials is continually soaring and has reached a record 40-year high, as per the annual growth of the BCIS Material Cost Index. The post Why is the Cost of Construction Materials Soaring? Inadequate number of containers […]. Inadequate number of containers […].

Materials 207

Materials Construction Industrial 207

Job Order Contracting

MARCH 5, 2021

Construction cost estimate validation is a process to determine the relative level of reliability. Any use of the work accuracy with the word construction estimate is simply foolish. Construction cost estimate validation is basically an objective risk analysis and assessment of information reliability.

Estimating 161

Estimating Construction Materials Risk 161