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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. ■

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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. Credible Cost Estimate Core Elements #1 Objectivity – The information used and those invovled in the creation of the construction cost estimate must be objective.

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Construction Cost Estimating – Single Source of Truth

Job Order Contracting

There is only one sole source of truth for construction cost estimating, locally researched detailed line-item unit price data and associated quantities. References: GAO-19-57 – FEDERAL REAL PROPERTY ASSET MANAGEMENT Agencies Could Benefit from Additional Information on Leading Practices.

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Validity of a Construction Cost Estimate – Public Sector

Job Order Contracting

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.

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JOC Program Line-item Estimating

Job Order Contracting

Cost management involves different risks for all the parties involved, which highlights the need to manage risks properly. NEVER accept a lump sum estimate for a workorder/project without a full detailed line-item estimate and review of line-times and quantities. Verify all aspects of the direct work (e.g.,

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RELIABLE Construction Cost Estimating

Job Order Contracting

Reliable construction cost estimating is important to real property owners, facilities management professions, architects, and engineers. If a job is estimated correctly all parties should have a detailed understanding of the scope of work, costs, time, labor, and materials required.

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FEDRAMP is Hindering Facilities Management in the Federal Sector

Job Order Contracting

FEDRAMP is Hindering Facilities Management in the Federal Sector due to its failure to keep pace with current technology and methods. contact-form] The post FEDRAMP is Hindering Facilities Management in the Federal Sector appeared first on 4BT.