Job Order Contracting
OCTOBER 19, 2023
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. ■
Job Order Contracting
AUGUST 20, 2023
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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Job Order Contracting
AUGUST 30, 2018
Cost estimating. Life-cycle Management. COBie is an information exchange specification for the life-cycle capture and delivery of information needed by facility managers. Cost Estimating, Procurement, & Construction Project Delivery and Management Systems. Statistically reliable. Construction.
Building Information Management
MARCH 19, 2013
BIM is the life-cycle management of the built environment supported by digital technology. BIM is the life-cycle management of the built environment supported by digital technology. The recent increase in demand for sustainable or green buildings is further making the consideration of life cycle cost an issue.
Building Information Management
DECEMBER 5, 2013
Are Construction Cost Estimators an Obstacle to Efficient Project Delivery and BIM? Even today, most construction cost estimators continue to rely exclusively upon spreadsheets, despite well documented issues with the practice. Good dedicated cost estimating software programs are successful for a reason.
Job Order Contracting
AUGUST 19, 2016
Educational and training programs must focus upon asset life-cycle management and modeling. Overall focus must shift from first-cost mentality to life-cycle/total-cost-of-ownership. How many contractor estimates have been issued? What is the average time from RFQ to contractor estimate?
Building Information Management
OCTOBER 26, 2015
The Need for Credible Construction Cost Estimates. GAO and other studies/reports consistently report that errors and lack of due diligence with respect to original construction cost estimates are primary reasons for negative cost and schedule impacts, and overall poor project performance and outcomes.
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