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

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Job Order Contracting Life-cycle Facilities Value Management

Job Order Contracting

Job Order Contracting Life-cycle Facilities Value Management and improving AECOO outcomes for all participants and stakeholders. Job Order Contracting Life-cycle Facilities Value Management enables the efficient use of available funds targeted for executing renovation, repair, maintenance, and minor new construction projects.

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Credible Construction Estimate Core Elements

Job Order Contracting

GAO, 2009 The associated processes for developing a credible construction cost estimate are equally well documented. “Despite the fact that these basic characteristics have been published and known for decades, we find that many agencies still lack the ability to develop cost estimates that can satisfy them”. –

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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. Shared, performance-based risk/reward. Life-cycle Management. COBie is an information exchange specification for the life-cycle capture and delivery of information needed by facility managers. Capital planning and management.

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

Job Order Contracting

What documentation, forms are required? Who assesses the impact of the proposed changes? Who reviews the proposed change and its impact for initial approval ? How is the change implemented? What information is used in the process?

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Validity of a Construction Cost Estimate – Public Sector

Job Order Contracting

Risk and Uncertainty: Costs should be determined for uncertainties within an estimate. There should be a disciplined and comprehensive method of assessing and reassessing project risk and uncertainty. Costs that are unknown and costs associated with potential risks can be included in the form of a contingency amount.

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Building in Cloud – Collaborative Construction and FM Planning, Procurement, and Project Delivery

Job Order Contracting

Document Management within Building in Cloud allows you to manage all the information connected to it (metadata), not just the document content, including version, status, upload date, etc., Building in Cloud allows authorized team members to access and share documents, manage tasks, or troubleshoot.