Standardized Cost Information – Construction, Renovation, Repair, and Maintenance

Savvy real proper owners are starting their transition to standardized cost information.

Having standardized, verifiable, and granular local market cost data provides several important benefits.

1. Detailed labor, material, and equipment costs representative of current local market conditions
2. A verifiable audit trail
3. A method to validate general contractor (GC) and subcontractor bids
4. A clear, detailed Scope of Work (SOW) to share among all participants and stakeholders
5. The ability to create, modify, and cost effectively manage cost data
6. A way to save up to 30%-40% of project costs

Reach out and see best practices for creating your own way to leverage verifiable cost data for all your facilities and built environment requirements.

Why 4BT’s Data Structure Excels

Construction cost data must be valid, reliable, and verifiable  to objectively and realistically represent current local market conditions.

1. Exclusive source of current, LOCAL MARKET commercial construction cost data
2. Measurably improve Cost Visibility and Cost Management Capabilities
3. Evaluate and validate contractor bids / proposals with verifiable cost data for materials, labor, and equipment

• Eliminates Guesswork: Removes reliance on error prone location and economic adjustment factors.
• Supports LEAN and Value Management Principles: Enables waste reduction, value generation, and continuous improvement by providing verifiable and actionable data.
• Adaptable to Market Realities: Ensures projects are not derailed by unexpected cost changes.