Remove Budgeting Remove Documentation Remove Presentations Remove Schedule
article thumbnail

12 Step Program for Creating Credible Construction Estimates

Job Order Contracting

. #1 Define estimate’s purpose ■ Who will use the estimate and how. Required level of detail, and overall scope. #2 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

Three Easy Steps to Building a Commercial Building

Wolgast Corporation

During this phase, clients will also get a construction cost estimate that is sufficient for presenting to an owner’s financial institution for securing a construction loan. We also gain all permit approvals, get materials ordered, and trade contractors scheduled for construction to commence at this time.

professionals

Sign Up for our Newsletter

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

article thumbnail

Credible Construction Estimate Core Elements

Job Order Contracting

For example, GAO and other studies/reports consistently report that errors and lack of due diligence with respect to original construction cost estimates are primary reasons for negative cost and schedule impacts, and overall poor project performance and outcomes. T The following figure, for example, was produced in 1972.

article thumbnail

Project Foundation Pt. 1: Building the Master Schedule

Stok

That foundation is a detailed schedule and budget, created and owned by the Project Manager, with input from consultants and contractors, and approved by the Client. To start, here are key considerations to take when creating the Master Schedule, prioritized by stok’s Project Managers : 1.

article thumbnail

How to simplify your daily construction reports

Lets Build

Disputes, delays, cost or schedule overruns ? Another risk that project managers face is schedule overruns. Daily construction reports can help project managers identify the causes of delays and take corrective actions promptly to ensure that the project remains on schedule. All of the above?

article thumbnail

Five Causes of Construction Rework and How to Avoid Them

Fieldwire

It typically means some portion of work has to be redone to fix a problem, often with adverse schedule and cost impacts. Planning and Scheduling Problems. Schedule issues can lead to numerous problems on projects, one of which is rework. Insufficient supervision – Experienced supervisors are not present to oversee work.

article thumbnail

These 5 essential traits in your team are the secret to a successful construction project

Fieldwire

There’s more to a successful construction project than enough resources, workforce and budget. Even when you disagree with someone’s point of view, you’re prepared to listen and present your opinions respectfully. CONSTRUCTION SCHEDULING SOFTWARE Easy construction project scheduling with Fieldwire Learn more → 4.