article thumbnail

How to Estimate Duration of Activities in Construction

The Constructor

All formal scheduling procedures rely upon estimates of the durations of the various project activities as well as the definitions of the predecessor relationships among tasks. Formally, the probability distribution of an activity's duration as well as the expected or most likely duration may be used in scheduling.

article thumbnail

Credible Construction Estimate Core Elements

Job Order Contracting

A credible construction cost estimate is required prior to engaging in procurement. The follow elements are common to a credible construction cost estimate. applied to a outdated cost estimate will introduce significant error. Primary data sources should be used whenever possible. ENR economic index, etc.)

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

12 Step Program for Creating Credible Construction Estimates

Job Order Contracting

The below 12 Step Program for Creating a Credible Construction Estimate is a valuable tool for any real propery owner or services provider. #1 1 Define estimate’s purpose ■ Who will use the estimate and how. Monte Carlo simulation) to develop a confidence interval around the point estimate. ■

article thumbnail

Construction Cost Estimating Facts

Job Order Contracting

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.

article thumbnail

How Self-Performed Trades Keep Construction Schedules on Track

Wolgast Corporation

The biggest complaint and almost a disappointing anticipation in our industry is that a job will take longer than estimated. After 75 years in the business, we understand that our projects run smoother and more efficiently when we rely on setting the schedules and completing the work ourselves for three specific trades.

article thumbnail

Better Manage Construction Costs Schedules and Quality

Job Order Contracting

Over eighty percent (80%) of construction projects are over-budget, late, or not competed correctly. Sixty (60%) percent of all project fail to meet both cost and and schedule targets. Fortunately there are proven processes to better manage construction costs, schedules, and quality. Better Manage Construction Costs.

Schedule 163
article thumbnail

Line Item Construction Cost Estimating – 2020 and Beyond!

Job Order Contracting

Detailed line item construction cost estimating is a prerequisite to obtaining best value outcomes for facilities / built infrastructure repair, renovation maintenance, sustainability, and new construction projects. see LEAN construction guide ). see LEAN construction guide ). appeared first on 4BT.