Introducing 4BT Benchmark Construction EstimatorTM – Cost Estimating Software
#1 Objective, verifiable, current, granular local market cost data.
#2 Simple ease of use. Everything you need to create, share, copy/paste/compare estimates.
#3 Expanded CSI Masterformat.
#4 Print to PDF or Excel (with or without formulas).
#5 Line item notes.
You have used 4Clicks and RSMeans Online, as well as ProEst, Sage, STACK, WinEst, and similar tools.
What are the Challenges with these and Other “Market Leading” Tools:
– 4Clicks and RSMeans Online: Reliance on national averages daused disconnect from local market realities thus lacking the needed granularity for precise data.
– ProEst, Sage, STACK, WinEst, and similar tools: Emphasize functionality over accurate local market cost data, creating gaps in precise cost management.
Consider the following…
What are your primary sources of cost data?
How do you ensure currency and completeness of data?
Does your data reflect current, local market conditions?
How do you manage and share your data?
How often do you refresh your cost data?
Do you have multiple sources and current commercial construction standards to validate your data?
Is your data based upon time/motion studies of granular construction tasks?
Strengths:
– Provides objective, current, and locally researched cost data at a granular task level, including modifiers and separate demolition line items.
– Avoids inaccuracies from national averages and location factors by offering precise local cost information.
Why Choose 4BT:
– Ideal for LEAN construction frameworks like JOC, IPD, and Progressive Design-Build, ensuring true cost visibility and transparency for effective cost management.
– Stands out by prioritizing transparency and eliminating arbitrary economic adjustment factors found in traditional platforms like RSMeans or 4Clicks.
Why 4BT Excels as a LEAN Solution:
– Cost Transparency: Rooted in locally verified market conditions for better accountability and risk reduction.
– Granularity: Detailed line-item costs covering labor, material, equipment, and overhead/profit, alongside modifiers.
– Demolition-Specific Focus: Recognizes and includes unique challenges and costs of demolition tasks as separate line items.
– Aligned with LEAN Principles: Supports collaboration and cost visibility throughout planning, procurement, and delivery phases.
In Conclusion:
4BT is the go-to platform for organizations valuing true cost visibility and transparency, addressing flaws in traditional estimating methods. Tailored for LEAN construction practices, it ensures collaboration and accountability through accurate, verifiable data.
Reach out for a live introduction to 4BT’s 4BT Benchmark Construction EstimatorTM.
Examples of successful implementation of objective, verifiable, and locally representative construction cost estimating approaches within different project delivery frameworks:
1. Job Order Contracting (JOC)
Example: Facility Renovations for a Public University
- Challenge: A state university needed to manage multiple facility renovation projects within a tight budget while ensuring fair pricing for both the owner and contractors.
- Solution:
- Implemented a JOC program using 4BT’s locally researched, granular cost data.
- Verified costs for each task, including labor, material, equipment, and demolition items, eliminating the reliance on national averages or location factors.
- Used transparent line-item pricing, enabling the university and contractors to agree on costs before work began.
- Outcome:
- Reduced cost disputes by 25%.
- Projects were delivered on time and within budget due to improved collaboration and cost visibility.
- Streamlined procurement, saving an estimated 30% in administrative costs.
2. Integrated Project Delivery (IPD)
Example: Healthcare Facility Expansion
- Challenge: A regional hospital required an expansion to meet increased patient demand, with strict cost controls and a mandate for team collaboration.
- Solution:
- Leveraged 4BT’s cost database to create transparent, verifiable estimates for all design iterations.
- The team (owner, architect, contractor) worked collaboratively with full visibility into costs at every stage.
- Granular data enabled real-time cost adjustments as design changes were made, ensuring alignment with the budget.
- Outcome:
- Prevented scope creep by aligning design decisions with actual local market costs.
- Improved trust among stakeholders, leading to faster decision-making.
- Achieved savings of 15% compared to traditional cost estimation methods.
3. Progressive Design-Build (PDB)
Example: Municipal Water Treatment Plant
- Challenge: A city needed to upgrade its aging water treatment plant while staying within a fixed budget. The owner also required detailed cost transparency to justify expenditures to the public.
- Solution:
- 4BT’s detailed, current, and localized cost data was used during the preconstruction phase to create objective and verifiable cost models.
- The design-builder provided early estimates with full line-item transparency, enabling the city to validate costs and adjust project scope accordingly.
- Modifiers for project complexity and demolition were applied directly, providing a more accurate representation of actual costs.
- Outcome:
- Enabled the city to secure public trust by demonstrating clear cost accountability.
- Delivered the project within the fixed budget due to proactive adjustments during the design phase.
- Reduced design-build conflicts through shared understanding of costs.
4. LEAN Practices in Facility Management
Example: Maintenance and Repairs for a Federal Government Agency
- Challenge: A federal agency needed to streamline its facility maintenance program across multiple locations, with a focus on reducing waste and improving cost management.
- Solution:
- Introduced a JOC framework using 4BT’s objective and granular cost data.
- Local cost research ensured task-level costs (e.g., plumbing repairs, HVAC replacements) were verifiable and current.
- Separate demolition items and line-item modifiers allowed for precise cost planning, avoiding overestimation or hidden fees.
- Outcome:
- Saved 20% annually by eliminating unnecessary economic adjustment factors.
- Improved contractor accountability through transparent pricing.
- Enhanced decision-making with real-time cost visibility across all locations.
Key Lessons Across All Examples
- Data Quality Matters: Granular, locally verified cost data is the foundation for trust and collaboration.
- Collaboration Drives Success: Transparency in cost estimation fosters alignment between owners, contractors, and designers.
- LEAN Frameworks Require Verifiable Data: Without objective and verifiable costs, LEAN principles like waste reduction and continuous improvement are hard to achieve.
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