Detailed Scope of Work

A detailed, objective, and fully transparent Scope of Work (SOW) is critical to the success of any repair, renovation, maintenance, or new

construction project and must be developed prior to

procurement of construction services. A detailed SOW provides sufficient project definition to enable the

creation of a granular requirements and estimates. (Note: Granular in this instance refers to individual labor, material, labor, and productivity components for associated with a discrete line-item demolition, repair, maintenance, or new build activity.)  Learn more about creating a detailed SOW here.

Verifiable Estimates

The term “Accurate” gets thrown around too casually in our world. An estimate is a forecast, not a fact. It can (and should) be well-supported, well-founded, detailed, transparent, reliable, objective, current, verifiable, and clearly communicated using industry standard terms, definitions, and data architectures (example, expanded CSI Masterformat) and grounded in sound assumptions.  Calling a construction cost estimate accurate implies a precision that just isn’t possible when predicting the future

That said, a construction estimate must reflect local market conditions.  In other words, labor, material, and equipment cost components need to be current and locally researched.  (Note: Independent studies have clearly demonstrated that use of historical data or national average cost data, locations factors, or economic indexes introduced significant errors.)

Rooted in sustainability, energized by knowledge

Location-specific factors significantly impact cost estimates in construction and relying on national average cost data and location factors lead to significant inaccuracies. The importance of locally researched data to capture real-time market fluctuations and ensure actionable cost estimates cannot be overstated. 

• Local Market Fluctuations:

Traditional cost databases often use national or regional averages and location factors, or historical data which don't reflect the dynamic changes in local markets. 

• Dynamic Data Approach:

4BT offers 90,000+ detailed line-item construction cost data that's locally researched, providing a more accurate representation of labor, material, and equipment costs specific to a location and is updated quarterly. 

• Benefits of Local Data:

Locally researched data helps with more precise budgeting, cost breakdowns, and understanding the specific costs associated with labor, materials, and other project components. 

• Limitations of Location Factors:

While location factors can be used in preliminary project evaluations, they are not recommended for higher-quality estimates. 

1. Labor Costs: Vary significantly by location, including wages, benefits/fringes, and other factors.

2. Material Costs: Can be affected by factors like transportation, availability, and local regulations. 

Dynamic, local market cost databases updated quarterly to reflect real-time fluctuations.