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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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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. ■

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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. D etailed unit price line item information. contact-form].

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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.

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

Job Order Contracting

Decision support based upon current and actionable information. Specific to O&M, LEAN practices help provide a framework to integrate and maximize the capabilities of available people, processes, information, and technology to address ongoing facilities requirements, (see below figures). LEAN Practices Asset Competency Model.

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The “I” for Information if Building Information Modeling or Life-cycle Facility Management

Building Information Management

Building Information Modeling (BIM) is a digital representation of physical and functional characteristics of a facility. A BIM is a shared knowledge resource for information about a facility forming a reliable basis for decisions during its life-cycle; defined as existing from earliest conception to demolition.

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Construction Document Information Management

Job Order Contracting

Construction Document Information Management is central to productivity improvement. Construction Document Information Management. Imagine the ability to rapidly organize data and leverage mobile tools to enable access to, and the management of, actionable, standardized, defensible information… anytime and anywhere.