Construction Cost Data Integrity is one of the most overlooked items in preparing a detailed Scope of Work.
Construction Cost Data Integrity Requirements
#1 Objectivity
#2 Current, Local Market Information
#3 High Granularity
#4 Standardized Terms, Definitions, and Data Architecture
#1 Objectivity
Cost data must be professionally researched with source including, but not limited to, local, regional, and national materials suppliers as appropriate, prevailing wage rates for all associated trades, local contractors/subs, equipment rental services, local market productivity, relevant, third-party databases.
#2 Current, Local Market Information
All construction cost data should be researched per the associated cite. (Note: The use of national average cost data, location factors, economic factors, area cost factors, or historical data do not provide adequate cost visibility.)
#3 High Granularity
Line item discrete construction tasks represent the only methods from which quanities can be applied to then create an cost estimate ready for procurement analysis.
#4 Standardized Terms, Definitions, and Data Architecture
All cost data should be include industry standard terms and definitions written in plain English, without the excessive use of abbreviations or acronyms. Line item tasks should also have an associated expanded and unique CSI MasterFormat coding. A standardized data architecture vastly improves the efficiency of information use, sharing, reuse, expansion/customization, and updating.
The exclusive source of granualar, current, local market construction cost data and also preventive maintenace task and cost for associated frequencies/checklist, in excess of 90,000 line items and updated using over 1.2 million data elements is Four BT, LLC. www.4bt.us
