article thumbnail

12 Step Program for Creating Credible Construction Estimates

Job Order Contracting

Monte Carlo simulation) to develop a confidence interval around the point estimate. ■ Monte Carlo simulation) to develop a confidence interval around the point estimate. ■

article thumbnail

Credible Construction Estimate Core Elements

Job Order Contracting

Sharing actionable, transparent information with all construction project participants and stakeholders early on, and throughout the construction and operations life-cycle of a built structure, would measurably mitigate change orders, legal disputes, and waste. and maintenance information into the building knowledge base.

professionals

Sign Up for our Newsletter

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

article thumbnail

Collaboration in Construction Matters

Job Order Contracting

Compare those numbers to the AECOO (architecture, engineering, construction, operations, and owner) average of 70-72% of project over budget and over schedule! Significantly improving facility life-cycle repair, renovation, and new construction outcomes is both possible, and easily implemented IF owner leadership and competency are present.

article thumbnail

BIM, Value Management, Life-cycle Cost Management

Building Information Management

BIM is the life-cycle management of the built environment supported by digital technology. Unfortunately, too much emphasis has been placed upon 3-D visualization and other technology components vs. the process of life-cycle management. Consequently, the need for value management emerges. INTRODUCTION.

article thumbnail

Overcoming Common Facilities Management Challenges – 2019 and Beyond!

Job Order Contracting

Common Facilities Management Challenges: Limited Budget Limited Resources & Staff Deferred Maintenance Prioritizing Projects Meeting Project Timelines. By reducing waste, existing budgets and staff can be optimized. and statistically highly significant as P < 0.001 (less than one in a thousand chance of being wrong).

article thumbnail

Improving Renovation, Repair, and Maintenance Project Delivery

Job Order Contracting

The way to deliver 96%+ of renovation, repair, and maintenance projects on-time, on-budget, and at the appropriate level of quality is to enable collaboration with contractors and other expert service providers. Educational and training programs must focus upon asset life-cycle management and modeling.

article thumbnail

Collaborative Construction Contracts Drive BIM, not Technology

Job Order Contracting

BIM, the life-cycle management of the built environment supported by digital technologies, holds promise, yet remains elusive to many. As such it serves as a shared knowledge resource for information about a facility, forming a reliable basis for decisions during its life cycle from inception onwards. Introduction.

BIM 100