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. Current percentage of life used. Managing Life-cycle Costs.

article thumbnail

Valid construction estimates

Job Order Contracting

Valid construction estimates are based on processes and procedures, however, most organizations rely upon dated, ineffective methods. Cost and time estimates are imperative to the success of any construction project, both during construction and throughout the project life. 2 Detailed line item estimating.

professionals

Sign Up for our Newsletter

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

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

article thumbnail

Building Life-cycle Costs and Physical Asset Total Cost of Ownership Management (TCO)

Job Order Contracting

Creating and monitoring building life-cycle costs is a key component of physical asset total cost of ownership management. Initial Costs—Purchase, Acquisition, Construction Costs Operation, Maintenance, and Repair Costs Replacement, Renovation, Adaptation Costs Disposal / Recycling Costs Cost of Capital. Demolition.

article thumbnail

2021 Facilities Repair Renovation and New Construction Cost Management

Job Order Contracting

Introduction – 2021 Facilities Repair Renovation and New Construction Cost Management spans multiple principles, practices, domains, and more. The post 2021 Facilities Repair Renovation and New Construction Cost Management appeared first on 4BT. Sample Workflow. Project Procurement and Delivery Environment Comparison.

article thumbnail

Forget Construction Cost Estimating Accuracy

Job Order Contracting

I always tell owners, builders, architects, and engineers to forget construction cost estimating accuracy. I would also avoid estimators and, or cost data providers that claim to provide accurate construction cost estimates. There is no such thing as an accurate construction cost estimate. This is clearly foolish.

article thumbnail

Best Value Facilities Repair, Renovation Work Order Delivery

Job Order Contracting

News Flash – Best value facilities repair, renovation work order delivery is now available to any real property owner. Create a shared scope of work using a a detailed line item construction cost estimate using locally researched cost data. Best value facilities repair, renovation, maintenance, and new build benefits.