Creating a cost estimate in construction requires experience not only in estimating but in actual construction tasks. Field experience on job sites is necessary in order to gain a full understanding of situational requirements. I would even argue that a site visit should be mandatory in addition.
Preparing multiple reasonable detailed estimates efficiently as requires using a line item construction cost database.
There are “national average” cost database available. These are a reasonable starting point. Using them exclusively, however, is not a recommended best practice. They do not represent local labor, equipment, and material costs sufficiently. The use of a national average cost database AND localization factors is also not a recommend best practice. The application of localization factors at such a “gross” level introduces significant error.
Cost Estimate in Construction
A locally researched line item construction cost database (complete with labor, material, and equipment detail and organized via CSI MasterFormat) combined with the decades of experience of skilled construction cost estimator is the best past toward an detailed, accurate, and collaborative cost estimate in construction.
Job Order Contracting, a collaborative integrated project deliveyr method, required the use of unit price book (UPB) to create a cost Estimate in construction. Best management practice required the use locally researched detailed unit price construction cost data.
Four BT, LLC is an innovator in providing construction data, cloud technology, and services for Job Order Contracting and physical asset life-cycle / total cost of ownership management. Our team of highly experienced and skilled professions is unsurpassed in the creation of construction cost data and life-cycle management from concept through ongoing operations. Our team members have provided services and solutions to the largest real property portfolio owners in America, as well as smaller facilities management organizations across all public and private sectors. If you organization is looking to delivery more renovation, repair, and construction project on-time, on-budget, and to the statisfaction of all stakeholders, contact us today.
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