Objectively VALIDATE Contractor and Subcontractor Construction Cost Estimates
Construction cost management capabilities are critical to the success of any repair, renovation, maintenance, or new build activity. That said 80%+ of all projects are late or overbudget largely due to an inadequately detailed and poorly communicated Scope of Work (SOW) and associated cost estimate.
#1 Using a granular, current locally researched construction cost database enables validation of contractor and subcontractor estimates.
#2 Validating contractor estimates using a locally researched cost database can save 30%-40% of overall project costs.
#3 Sharing and estimate developed using a locally researched cost database with contractor improves SOW definition and significant reduces risk for all parties.
Simply applying quantities to line items that reflect local market conditions labor, material, equipment, and productivity is a proven path towards cost visibility and improved cost management.
Using a standard data architecture (expanded CSI MasterFormat) and industry standard terms and definitions is also critical to information sharing.
Objectively VALIDATE Contractor and Subcontractor Construction Cost Estimates
Construction cost management capabilities are critical to the success of any repair, renovation, maintenance, or new build activity. That said 80%+ of all projects are late or overbudget largely due to an inadequately detailed and poorly communicated Scope of Work (SOW) and associated cost estimate.
#1 Using a granular, current locally researched construction cost database enables validation of contractor and subcontractor estimates.
#2 Validating contractor estimates using a locally researched cost database can save 30%-40% of overall project costs.
#3 Sharing and estimate developed using a locally researched cost database with contractor improves SOW definition and significant reduces risk for all parties.
Simply applying quantities to line items that reflect local market conditions labor, material, equipment, and productivity is a proven path towards cost visibility and improved cost management.
Using a standard data architecture (expanded CSI MasterFormat) and industry standard terms and definitions is also critical to information sharing.
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4bt.us – Objective local market construction cost data