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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. Credible Cost Estimate Core Elements #1 Objectivity – The information used and those invovled in the creation of the construction cost estimate must be objective.

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Validity of a Construction Cost Estimate – Public Sector

Job Order Contracting

The validity of a construction cost estimate, the most important aspect, is often overlooked and resulting in billions of dollars was every year. A construction cost estimate must be independently validated. Key Principles There are key principles that should be adhered to when preparing a construction cost estimate.

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Line Item Construction Cost Estimating – 2020 and Beyond!

Job Order Contracting

Detailed line item construction cost estimating is a prerequisite to obtaining best value outcomes for facilities / built infrastructure repair, renovation maintenance, sustainability, and new construction projects. A locally researched detailed line item construction cost estimating database plays a key role in this regards.

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Digital Twin – Aligning the physical and functional status of buildings and other physical objects with a corresponding digital model makes it possible to monitor and optimally manage capital reinvestment throughout their life-cycle.

Job Order Contracting

Aligning the physical and functional status of buildings and other physical objects with a corresponding digital model makes it possible to monitor and optimally manage capital reinvestment throughout their life-cycle. Requisite Components of a Physical Asset Life-cycle Management Solution. appeared first on 4BT.

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Lean Asset Management

Job Order Contracting

Lean Asset Management significant improve the availability, dependability, usefulness, safety of facilities and other physical assets, while also lowering life-cycle costs. The application of works flows, that integrate planning, procurement, and project delivery methods. Of course, but rarely practices by real property owners.

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

Job Order Contracting

Clearly defined and documented roles, responsibilities, workflows. Cost estimating. Procurement/bidding. Life-cycle Management. COBie is an information exchange specification for the life-cycle capture and delivery of information needed by facility managers. Shared, performance-based risk/reward.

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Job Order Contracting Best Management Practices

Job Order Contracting

Job Order Contracting best management practices should be applied throughout the life cycle of every program, contract, project, estimate, and work order. During planning, procurement, and facilities professionals should work together to develop a clear. statement of work (SOW). Locally Researched Construction Cost Data.

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