Detailed cost estimating is the process of predicting the cost of a facility through quantitative analysis of the work required by the design documents. Although not always required by clients, detailed cost estimates can be an important part of overall cost management and budget adherence.
Today’s owners expect their design and construction team to manage project costs in an accurate and responsive manner. They expect that an accurately defined budget will be prepared early in a project and that the project will be completed to required scope, meeting expectations of quality and performance, all within the budget. Clients are demanding that designers manage project costs and meet budgets without compromising excellence in design.
The ability to relate construction details and specifications to actual construction processes is useful, especially for processes and sequences not typically drawn and detailed in construction documents, such as excavation, form work, sheeting and shoring, false work, and a variety of general conditions. An understanding of where construction disciplines interface is also helpful. Effective estimating in any form, detailed or not, will benefit from an individual’s ability to think and work with the hierarchical format structures typically associated with construction. Roll-ups and breakdowns are typical steps associated with estimating.
Although estimating today is performed using computers, spreadsheets and specialized software, knowing the basics of estimations gives an edge to an individual. The theory on which all the calculations are based makes one more desirable compared to others.
A Handbook is a collection of all-embracing facts about a particular topic and is handy enough to be carried in a pocket. Construction Cost Estimating Handbook is what you require. Going for a site visit and a doubt pops up, worry not, just open the handbook and your query will be answered.
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