Construction Cost Estimating: Process and Practices / Edition 1 available in Hardcover
The most comprehensive book on the market that covers the fundamental cost estimating principles and processes used in commercial construction today. Using a single case study, the book shows readers how to prepare their estimates and to develop the necessary skills needed to be successful in the construction industry. It covers theory, types of estimates, estimating procedures and contractual aspects as well as providing practical tips on how to estimate. Specifically details the process for developing three separate types of estimates: a budget estimate during design development, a guaranteed-maximum-price estimate for a cost-plus contract, and a bid for a lump-sum contract. The book also discusses analysis of subcontractor quotations as well as estimating job site general conditions and company overhead costs; it even includes discussion of negotiated contracts. A comprehensive reference for construction professionals such as cost estimators and project managers.
Table of Contents
(NOTE: Each chapter begins with an Introduction and concludes with Summary, Review Questions, and Exercises sections.)
Cost Estimating Process.
Uses of Cost Estimates.
Types of Cost Estimates.
Types of Construction
Risk Analysis and Contingencies.
2. Case Study: Training Center.
Project Execution Strategy.
II. BUDGET ESTIMATING PROCESS.
3. Budget Estimates.
Programming Budget Estimates.
Schematic Design Budget Estimates.
Design Development Budget Estimates.
4. Budget Estimates for the Training Center.
Take-Off of Substantial Areas.
Budget Estimate Accuracy.
5. Estimates for Preconstruction Services.
Marketing for the General Contractor.
The Request for Proposal.
Development of the Preconstruction Services Estimate.
Preconstruction Services Contract.
Budget Control Log.
III. BID CONTRACT ESTIMATING PROCESS.
6. Pre-Estimate Activities.
Solicitation of Lump-Sum Bids.
Invitation for Bid.
Bid Date and Time.
Bid Document Revisions.
Personal Estimating Notebook.
Decision Whether or Not to Tender a Bid.
Work Breakdown Structure.
Scheduling the Estimating Work.
Subcontractors and Major Suppliers.
Plan Centers and Rooms.
Accuracy and Error Prevention.
7. Quality Take-Off.
Completing and Checking the Quantity Take-Off.
8. Pricing Self-Performed Work.
Applying Pricing Factors.
9. Estimating Subcontractor Work.
Estimating Subcontractor Work for the Training Center.
Completing the Subcontractor List.
10. Estimating General Conditions.
Project Summary Schedule.
Elements of the General Conditions Estimate.
11. Completing the Estimate.
Final Document Review.
Completing the Bid Summary.
First Run Bid Estimate.
Validating the First Run Estimate.
Preparing the Estimate for Bid Day (Electronic).
12. Unit Price Estimates.
Unit Price Bid Forms.
Direct Cost Estimation.
Variation-in-Quantity Contract Provision.
13. Pre-Bid Day Activities.
Setting Up the Bid Room.
The Bid Day Team.
Subcontractor Bid Evaluation Procedures.
14. Bid Day Activities.
Receiving Subcontractor and Supplier Bids.
Posting Subcontractor and Supplier Bids.
Evaluating Subcontractor and Supplier Bids.
Preparing for Delivery of the Bid.
Completing and Tendering the Bid for the Training Center.
Additional Bid Day Issues.
15. Post-Bid Day Activities.
Subcontractor and Supplier Inquiries.
IV. NEGOTIATED CONTRACT ESTIMATING PROCESS.
16. Guaranteed Maximum Price Estimates.
Contract Procurement Process.
17. Fee Determination.
Reimbursable versus Non-Reimbursable Costs.
Home Office Overhead.
Other Impacts on Fee.
Construction Cost Savings Split.
18. Guaranteed Maximum Price Estimate for the Case Study.
Estimating General Contractor Work.
Estimating Subcontractor Work.
Estimating Contractor General Conditions.
Markups and Add-Ons.
19. Cost Proposals for Negotiated Contracts.
Strategies for Responding to the Request for Proposal.
Documents to be Included with the Written Proposal.
General Contractor Interview and Selection Process.
V. ADVANCED ESTIMATING TOPICS.
20. Automated Estimating Techniques.
Pre-Estimate Automated Techniques.
Automated Estimating Techniques.
Project Management Automation Tools.
21. Other Types of Estimates.
Estimating Bid Alternatives.
Residential Project Estimates.
Industrial Project Estimates.
Change Order Estimates.
22. Project Management Issues.
The Buyout Process.
Correcting the Estimate.
Schedule of Values.
Cash Flow Curves.
List of Abbreviations.
Request for Proposal.
Invitation for Bid.
Selected Project Specifications for the Training Center.
Selected Project Drawings for the Training Center.
Most Helpful Customer Reviews