Learning how to estimate construction costs will minimal variation requires a decade or move of experience and observing several key LEAN construction best management practices including collaboration, transparency, standard terms/data architectures, and continuous improvement.
Estimate Construction Costs
It is generally recognized that detailed line item construction task definition and associated costing methods provide the most beneficial and defensible form of information.
That said, there are multiple related issues/concerns that must be considered in order to properly leverage and benefit from this highly refined level of construction costing. These include, but may not be limited to the following;
- Expertise in line item construction cost research
- Applicability of specifications to the local area
- Appropriate levels of granular and quantity of line items
- Cost to adequately research data
Unit price line item cost data collection is expensive in terms of resources required to develop and maintain current and defensible information. It is generally cost prohibitive for any single real property owner, AE firm, or construction contractor to maintain a cost research staff capable of generating an actionable 30,000 to 60,000 commercial construction line item database.
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