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Construction Cost Estimation

Construction Cost Estimation. Michael Mincic Civil Engineering Technology Department 22 February 2007. Civil Engineering Technology at CSU-Pueblo. Bachelor of Science CET Four year degree accredited by the Accreditation Board for Engineering and Technology TAC-(ABET). Outline.

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Construction Cost Estimation

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  1. Construction Cost Estimation Michael Mincic Civil Engineering Technology Department 22 February 2007

  2. Civil Engineering Technology at CSU-Pueblo • Bachelor of Science CET • Four year degree accredited by the Accreditation Board for Engineering and Technology TAC-(ABET)

  3. Outline • Construction Cost Estimating • Bid Documents • The Estimation Process • Cost of Construction Labor & Equipment

  4. Construction Cost Estimating • Estimating is not an exact science! • Construction knowledge • Common sense • Good judgment • Lots of Luck!!!

  5. Types of estimates • The construction process players • The Owner • The Designer • The Contractor • Approximate Estimates • Detailed Estimates

  6. Organization of Estimates • See Steps for preparing a detailed estimate (pg. 8, Table 1.2) • CSI Format • Building Construction • 16 major divisions • WBS Format • Heavy Engineering

  7. Quantity Take-Off Labor and Equipment crews Checklist of Operations Bid Documents Addenda & Change Orders Overhead Material Taxes Labor Costs Workmen’s Compensation Insurance Labor Burden Bonds Insurance Awareness of Estimation Items

  8. Bid Documents & Contract Documents • Bid Document • Before Agreement • Contract Document • After Agreement • Architect • building type • Engineer • Heavy/Industrial

  9. Bid Documents • Contract Requirements • Arrangement of Contract Documents • Business/legal matters • Technical matters • Building Construction Specs • Heavy/Highway Specs

  10. Bid Documents • Requirements • Bid Solicitation • Instructions to Bidders • Time of completion • Obligation of Bidder • Information Available to Bidders • Bid Forms • Lump sum • Unit price

  11. Drawings • Heavy/Highway • Plan, profile, earthwork, cross section, details, schedules, etc. • Building Construction Drawings • Civil • Architectural • Structural

  12. Decision to Bid • Assess the desire to Bid • Do we want to bid this project? • Do we have the skills to complete this project? • Do we have the available labor to complete this project? • Do we have the necessary equipment to complete this project? • Do we have experience with similar projects? • How busy are we? • Can we bond for the additional work with the existing projects?

  13. Additional Decisions to Bid • Geographic Location • Complexity of the Project • Owner’s Reputation • Designer’s Reputation • Do we want to expand?

  14. Sources of Labor Rates • Union Wage • Predetermined by contractor’s union • Open-Shop • Agreed upon by the employer and employee • Prevailing rate • Dependant on the local area • The Cost of Labor

  15. Employee Costs • Social Security Tax • Unemployment Compensation Tax • Worker’s Compensation Insurance • Public Liability & Property Damage Insurance • Fringe Benefits

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