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cost estimating

27

Jun'16

The Vital Skill Each Cost Estimator Should Master in Cost Estimating

Throughout my 30+ years in the construction industry, many of those in the cost estimating field, I met great estimators as well as estimators who lack the confidence to say: Yes, I calculated this cost, this is how I did it, and this is the benchmark data to prove it. My curiosity was always to why some otherwise experienced cost estimators ,when faced with the dilemma of documenting a price, were lacking the confidence to explain the calculated costs fully. What I found is somehow surprising: Some cost estimators did not build a solid foundation on detailed cost estimating, more …

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07

Jun'16

What Makes a Great Conceptual Cost Estimate?

Years back, my boss used to say “You will know whether your estimate is accurate or not, only after the project is finished”. This is so true. Estimating is not an exact science and by definition, the estimated number is only a predicted outcome. Conceptual estimates start with the feasibility or order of magnitude estimate and then progress to schematic, design development and construction document stages. The design development phase is dynamic and at every stage, the owner has to feel comfortable that the design is within the budget and if it varies has to be convinced by the design …

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26

Sep'15

What Is Project Controls?

Project Controls is that element of a project that keeps it on-track, on-time and within budget. Now let’s take a look at the role of project controls in successfully managing your projects. Project controls provides accurate and timely information to project management team that will enable them to make informed decisions and take necessary actions to correct any possible adverse situations or trends. Project Controls also advises the client of the true status of the project. Nowadays, with the evolution of project management, the need for an effective project control system is more evident. Many companies are still following the …

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