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S OURCES OF E STIMATION D ATA

S OURCES OF E STIMATION D ATA. 1. Company ’ s Own Cost Data From Previous Projects. Advantages It reflects quality and productivity of its own equipment and crews. It reflects company’s management system and construction methods. Limitations

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S OURCES OF E STIMATION D ATA

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  1. SOURCES OF ESTIMATION DATA DR. Nabil Dmaidi

  2. 1. Company’s Own Cost Data From Previous Projects • Advantages • It reflects quality and productivity of its own equipment and crews. • It reflects company’s management system and construction methods. • Limitations • Accurate field information should be collected and updated. DR. Nabil Dmaidi

  3. Company's Historical Data Div. Work Desc. Unit Low Avg. High 2 Site work sf 0.30 0.35 0.39 2 Excavation cy 3.56 4.57 4.93 3 Formwork sfca 2.56 2.71 3.11 3 Reinforcement lb 0.35 0.38 0.42 4 Masonry (...) sf 5.82 6.21 7.34 DR. Nabil Dmaidi

  4. SOURCE OF COST DATA (Cont.) 2. Commercial cost books • published and updated periodically • contain specifications, labor rates, labor productivity, prices, photos, calculations, etc. The most common references are: • Means Building Construction Cost Data , R.S. Means Company • Dodge Manual, McGraw-Hill Cost Information Systems • Walker Building Estimator’s Reference Book, Frank R. Walker Company DR. Nabil Dmaidi

  5. Limitations of Commercial Cost Books • They represent composite data (average of many projects) • They fail to recognize technological changes • There is a reporting time lag. DR. Nabil Dmaidi

  6. SOURCE OF COST DATA (Cont.) 3. Published Data These guides are valuable to estimators who do not have access to actual job records. Vendor's Data information published by the manufacturer or distributor which usually gives the unique features and specifications relating to the product e.g. Sweet's catalog Periodicals gives various construction cost indices for all cities all over North America. e.g. Engineering News Records (ENR) DR. Nabil Dmaidi

  7. 4. Prototype Modeling • Build a model for unique work where no published literature is available, • examples: spread concrete on an airfield parking ramp or mock up for building facade 5. Professional Associations • American Association of Cost Engineering AACE • National Estimating Society *Seminars, training organizations, publications DR. Nabil Dmaidi

  8. 6. Previous Bid Tabulations • Available from previous bid openings (public works) • Generally, limited to the lowest three bidders DR. Nabil Dmaidi

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