Active Construction Cost Management is important to any repair, renovation, maintenance, or new build activity. Yet, despite is value, most public sector organizations have yet to deploy it.
Over eighty percent (80%+) of all projects are late or overbudget largely due to an inadequately detailed and poorly communicated Scope of Work (SOW), including the failure to leverage readily available objective, current, verifiable, local market labor, material, equipment, and productivity data.
Questions every real property owners should ask before procuring a repair, renovation, maintenance, or new build service.
#1 Can I objectively validate the cost estimate?
#2 Is the cost estimate objective?
#3 Does the cost estimating include all granular construction tasks and quantities, including labor, material, equipment, and productivity representing current local market conditions.
#4 Is the cost estimate organized using a standard data architecture (i.e. expanded CSI MasterFormat) and industry standard terms and definitions understandable to all participants and stakeholders?
#5 Do all planning, procurement, and project delivery teams understand and agree with the construction cost estimate?
#6 Can I dynamically review, edit, and track the construction cost estimate as needed? Are all changes logged as well as notes included per line-item as to why changes were made?
#7 Can I track the performance of the cost estimate through the project lifecycle?
#8 Is my cost estimate part of a robust, integrated planning, procurement, and project delivery process?
Haven’t answered “Yes” to all the above…. let’s talk.
