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Myths Behind Construction Estimating

Construction Cost Estimating

Estimating is a vital process in a construction business as it can increase the profit margin of an owner to a great extent. So the estimating system in an organization should be authentic, uncomplicated, well-organized and speedy in order that owner can concentrate his focus on constructing his business.

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A glossary of terms with reference to Construction Cost Estimating

Construction Cost Estimating

Allowance - a value in an estimate to cover the cost of known but not yet fully defined work. As-sold estimate - the estimate which matches the agreed items and price for the project scope. This total or subtotal is usually identified as such in an estimate report. Also known as Total Estimated Contract Cost (TECC).

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JOB ORDER CONTRACT Glossary / Terms / Defintions – JOC , JOB ORDER CONTRACTING

Building Information Management

to 1.20 multiplier applied to the the total of the line items for a project or task order estimate. It typcially includes all overhead items such as. The day to day field supervisor working with the Job Orders, proposals (estimates), subcontractors and interfacing with the Contractors. contingencies.

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Every Owner Should Implement JOC – JOB ORDER CONTRACTING – for Renovation, Repair, Sustainabilty, and Maintenance Construction Projects

Building Information Management

Items that are not in the UPB can be negotiated, priced, and added to the UPB at any time. JOC technology – Running JOCs within a spreadsheet or generic construction cost estimating software is inefficient and provide inadequate reporting and management tools/capabilities. Performance-based. Shared Risk-Reward. The Future.

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What are Independent Government Estimates – IGEs?

Building Information Management

IG5336.9201-ch1 Independent Government Estimates. An Independent Government Estimate (IGE) is an unbiased cost estimate based upon the specifications and without the influence of potential contractor’s marketing effort or input. Once the IGE is developed, CE and the CO ensure that the cost estimate is fully funded.

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General Overview - Construction Cost Estimating Blog

Construction Cost Estimating

Construction Cost Estimating Blog. Two or more contracts are accounted for as a single contract if they were negotiated together and the work is interconnected. The true project cost will be determined by putting estimated unit rate adjacent to each work item. Estimation / Cost Planning. Join our estimating forum.

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Job Order Contract – Frequently Asked Questions

Job Order Contracting

Is JOC Software required? Required software, Unit Price Book, other “tools”, and training etc. While smaller JOCs can be managed in spreadsheets, a JOC-specific software package helps to assure the requisite levels of collaboration, transparency, productivity, and oversight. Should a UPB include overhead and profit?

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