Remove Construction Remove Estimating Remove Life Cycle Remove Modeling
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 applied to a outdated cost estimate will introduce significant error.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.)

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. ■

professionals

Sign Up for our Newsletter

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

article thumbnail

Estimating Facility Life-cycle Costs

Job Order Contracting

Estimating Facility Life-cycle Costs is a critical aspect of facilities management. Key elements associated with Estimating Facility Life-cycle Costs include the following: Experience. Systems costs and systems life-cycles. Expected system/assembly life-times. Managing Life-cycle Costs.

article thumbnail

LEAN Construction Project Delivery and Facilities Operations, Maintenance, and Life-cycle Management

Job Order Contracting

LEAN Practices Asset Competency Model. Cost estimating. Construction. Construction project delivery methodology. Life-cycle Management. The Construction Operations Building information exchange (COBie) has become one of the most widely known data formats. Construction code databases.

article thumbnail

Construction is NOT complex…. People are. Successful Construction Project Delivery Requirements

Job Order Contracting

Successful Construction Project Delivery, whether repair, renovation, maintenance, or new builds, can only be consistently achieved with a primary focus upon People… then Process, Information, and enabling Technology. The post Construction is NOT complex… People are.

article thumbnail

RS Mean’s 2015 Facility Manager’s Package offers new life cycle cost models for facilities

Construction Cost Estimating

RSMeans obtained by the Gordian Group, the most recognized supplier of construction cost estimating information in North America, just declared the availability of its totally new life cycle cost models for facilities which belong to its 2015 Facility Manager’s Package.

article thumbnail

Construction Classification Criticality – A Draft White Paper

Job Order Contracting

Construction Classification Criticality. Architecture, Engineering, Construction, Facilities Management, & Life-cycle Management of the Built Environment. The combination of information related to all aspects of physical assets life-cycle is best called a physical asset model.

Drafting 100