Construction Engineering Management Project Costing

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Construction Engineering 221

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Presentation transcript:

Construction Engineering Management Project Costing

Bid Package/Documents Notice to Bidders/Invitation to Bidders Type of project Size of project Location of project Bid due date Start and completion date Bonds Document location Legal requirements Bid Form Alternates Contract Agreement General Conditions Supplementary General Conditions Drawings and Technical Specifications Performance Prescription Addenda (Q & A) Bid Package/Documents

Estimating Process Estimate construction costs Types of estimates Lump sum Unit price Time and Material (T&M) Cost price – Guaranteed Maximum price Quantity takeoff

Process of Estimating Break the project into cost centers Estimate the quantities required for the cost centers (e.g., cubic yards of earth, lineal feet of pipe, etc.) Price cost the quantities (most take into consideration analysis of production rates based on resources available) Calculate the total price of each cost center by multiplying the quantities by the unit price.

Method of Estimating Break work into individual work packages Calculate quantities for each work item (adjust for waste) Select construct methods to be used Method of Estimating Assign resource group to be used (crew composition, equipment, subcontractors) Calculate crew cost Estimate production rate Calculate total work item cost

Learning Curve Average time per unit Number of Units

Estimating References R. S. Means Company, Building Construction Cost Data MeansCostWorks.com F. R. Walker’s, The Builders Estimator’s Reference Manual The Richardson General Construction Estimating Standards Company Historical records!!!

General Conditions

Overhead & Profit

Cost Adjustment for Locale San Antonio building cost = Canton building cost San Antonio index Canton building index $1,500,000 = Canton building cost 55.0 154.1 Canton building cost = 154.1 x $1,500,000 55.0 Canton building cost = $4,202,277

Using published cost data, compute the cost to construct a 6 story dormitory consisting of 90,000 SF. Using rough order of magnitude (cost per SF) data: (a) What is the cost of this dormitory in Philadelphia, San Francisco, and Miami? (b) What would the same project cost in 2000, 2010 and today? (c) Write a brief narrative discussing your methodology used to compute the costs. (d) Cite your sources (e) All reports shall be typed. LAB PROBLEM