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Project cost estimation levels – Construction

Job Order Contracting

Project cost estimation levels depend on the amount of current, actionable information available about the project at a given stage. As a repair, renovation, maintenance, or new build activity progresses and the scope becomes more defined, the estimates become more reliable. #1. Reliability Range: Wide range, typically -50% to +100%.

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Cost reliability and transparency in your Construction Estimating Process

Job Order Contracting

Remember: Striving for construction cost reliability and transparency in your construction estimating process, rather than absolute accuracy, will lead to more effective project management and ultimately, better results. Regularly update your cost data, quarterly is recommended, and monitor trends to ensure appropriate changes.

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Common construction cost estimating problems

Job Order Contracting

Key issues related to cost factors: Fluctuating Material Costs: Prices of construction materials can significantly vary based on market conditions, supply chain issues, and seasonal fluctuations, making accurate cost estimations challenging.

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How to Create an Independent Government Cost Estimate

Job Order Contracting

What is an Independent Government Cost Estimate? An IGCE (also in construction related service an IGE) is a cost estimate developed by the Government Requiring Activity, based on the requirements of the Performance Work Statement (PWS) or Statement of Work (SOW). How was the estimate made? What assumptions were made?

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Active Construction Cost Management – Government, Healthcare, Education, Transportation

Job Order Contracting

Active Construction Cost Management is important to any repair, renovation, maintenance, or new build activity. 1 Can I objectively validate the cost estimate? #2 2 Is the cost estimate objective? #3 4 Is the cost estimate organized using a standard data architecture (i.e. let’s talk.

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Valid Construction Cost Estimate Creation

Job Order Contracting

Valid construction cost estimate creation is the goal of every professional estimator. Nonetheless validity of a construction cost estimate is critical to cost management. The management of a cost estimate involves updating costs with current data as it becomes available and revising the estimate to reflect changes.

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Palmer Paving Gains Estimating Speed and Flexibility, and Powerful, Easy Tracking and Analysis with Software Technology

Civil + Structural Engineer

By Greg Norris, B2W Software Palmer Paving is no stranger to benefits of software technology, and a unified approach to estimating, performance tracking and accounting continues to pay dividends. Jim Madden, chief estimator Palmer Paving creates more than 500 estimates annually. Large bids are in the $10- and $20-million range.