INTRODUCTION
Oddly, few real property owners create a detailed construction cost model for their renovation, repair, maintenance, or new build projects. This is a primary factor causing the high level of waste and dissatisfaction associated with life-cycle management of the built environment.
WHAT IS A MODEL? WHAT IS A CONSTRUCTION COST MODEL?
Let’s start with the basics… what is a model? ” A model a three-dimensional representation of a person or thing or of a proposed structure, typically on a smaller scale than the original.” or “a system or thing used as an example to follow or imitate.” While a model can be defined in multiple ways, for the most part it is a way of sharing information and/or a level of understanding, or “a means for conceptualization and communication of ideas in a precise and unambiguous form” (Matipa, 2008). A construction cost model is a verifiable means for conceptualization and communication of detailed repair, renovation, maintenance, or new construction project’s physical and financial requirements is a precise, unambiguous, and standardized format.
COMMON DATA ENVIRONMENT
A common data environment (CDE) is a requisite component of an efficient construction planning, procurement, and project delivery environment. A locally researched detailed unit price book, written in plain English, with complete titles and definitions, and breakdowns for associate labor, material, and equipment, organized using a standard data architecture (i.e. CSI Masterformat)…. is perhaps the single most important common data source.
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