Project Budgeting, Cost Estimating, Control, and Life Cycle Costing.
The cost of a project is the most significant factor in its becoming a reality. Costs are dealt with at the beginning of a project by preparing a “budget cost estimate” incorporating relevant historical cost data and the creative skill of a seasoned estimator with similar project experience.
This is the most important, as well as the most difficult, type of estimate to prepare accurately. As a project evolves through the typical design process, additional evaluations of cost are made. These cost estimates are done as precisely as possible and include appropriate contingencies for unknown items.
The “concept estimate” helps to control the project early in the design process to stay within budget.
As a part of the conceptual design process, building system alternatives are identified. Life cycle costing is a method which compares both the construction cost as well as the operating costs (energy, water, maintenance, significant replacements, staffing) of these alternatives.
Using engineering economics, the lowest life-cycle cost alternative is identified for incorporation in the design.
This course will provide a basis for the many areas of estimating the design and construction professionals may face that. It will provide “hands-on” examples to facilitate familiarity with different types of estimates and their components.
With this basis, a person, through research, study and practical application, can further expand their cost estimating skills relative to their profession or branch out into new areas of estimating. Other methods of cost control, such as value engineering will also be discussed briefly.
You might be interested in another Project Management programs as a next step.
YOU WILL LEARN HOW TO
This course will provide a basis for the many areas of estimating that may be faced by the design and construction professionals. It will provide “hands-on” examples to facilitate familiarity with different types of estimates and their components. With this basis, a person, through research, study and practical application, can further expand their cost estimating skills relative to their profession or branch out into new areas of estimating. Other methods of cost control, such as value engineering will also be discussed.
IMPORTANT COURSE INFORMATION
Participants who fully attend this course and complete the test on the last day will receive a Strategic Axis Professional Certificate (SAPC). SAPC certificates are regionally recognized and can be quite valuable when applying for more senior roles within the organization or outside.
COURSE OUTLINE
Budget Elements
Design Phases
Cost Control Concept
Historical Budget Techniques
Estimating Standards
The Uniformat Elemental Classification
Capitalized Approach Project Budgeting
Sample Project Cost Plan / Cost Model
Budget Elements
Design Phases
Cost Control Concept
Historical Budget Techniques
Estimating Standards
The Uniformat Elemental Classification
Capitalized Approach Project Budgeting
Sample Project Cost Plan / Cost Model
Module 2: Construction Market Survey
Regional & National Market Conditions, Potential Bidders
Labor Availability, Productivity, and Union Rates
Material Availability and Unit Price Summary
Market Analysis Survey Questionnaire
Module 3: Fixing Project Scope
Facilities Functional & Technical Programs
Key Cost Drivers
Module 4: Computing Program Area Requirements
Space Efficiency
Rules of Measurement
Converting Net of Gross
Module 5: Case Studies – Example Estimates
Case Study 1: Historical-Comparative Budget Estimate (UDM)
Case Study 2: Parametric Budget Estimate (EMU)
Case Study 3: Parametric Concept Design Estimate (4th Precinct)
Module 6: Budget Estimating Approaches
Capitalized Approach Project Budgeting
Historical Projects, Comparable Costs (Per UM) + Summary Level 1
Parametric Uniformat Level 3 Systems + Summary Level 1
Module 7: Case Study Project Budgeting
Team Formation & Project Familiarization
Project Scope (CH 4)
Program Area Requirements (CH 5)
Module 8: Historical Comparative Budget Estimate
Office Historical Costs
Estimate Summary Assumptions
Project Workshop
Determine Average Historical Costs
Complete Budget Estimate Summary
Module 9: Parametric Systems Budget Estimate
Establishing Configuration / Massing (CH 6)
Siting the Building/ Configuration
Statistical Configuration Process
Building Statistical Description Summary
Project Workshop
Determine & Document Configuration Quantities
Module 10: Documenting Quality
Quality Standards / Levels
Sample Documentation by Element
Project Workshop
Determine & Document Quality
Module 11: Parametric Systems Budget Estimate Completion
Uniformat Systems & Quantities
Determine & Document Systems Level 3 Costs
Complete Project Summary Level 1
Project Assignments
Module 12: Concept Design Estimating Approaches
Parametric Uniformat Level 4 & 5
Quantity Take‐off Cost Items
Summary Level 1 Uniform
Case Studies ‐ Concept Estimating
Team Formation
Project Familiarization
Project Scope (CH 4)
Program Area Requirements (CH 5)
Module 13: Determining Quantities/ Costs for Structural Elements
System 01 – Foundation
System 02 – Substructure
System 03 – Superstructure
Module 14: Determining Quantities/Costs for Architectural Elements
System 04 – Exterior Closure
System 05 – Roofing
System 06 – Interior Construction
Module 15: Determining Quantities/Costs for Mechanical Elements
System 07 – Conveying Systems
System 081 – Plumbing System
082 – HVAC
System 083 – Fire Protection System
084 ‐ Special Mechanical Systems
Module 16: Determining Quantities/Costs for Electrical Elements
Module 16: Determining Quantities/Costs for Electrical Elements
Module 17: Determining Quantities/ Costs for Equip./ Site Work Elements
System 11 – Equipment
System 121 – Site Preparation
System 122 – Site Improvements
System 123 – Site Utilities
System 124 – Off‐site Work
Module 18: Project Management Plan
Methods of Accomplishment
Scheduling
Uniformat Elemental Specifications
General Conditions, OH&P, System 10
Contingencies, Types & Use
Escalation
Design & Management Costs
Management Costs during Construction
Real Estate Costs Reservations
Controlling Design Work
Estimates at SD, DD, CD, Bids, Change Orders
Historical Data
Controlling Design Work
Estimates at SD, DD, CD, Bids, Change Orders
Historical Data
Module 20: Life Cycle Costing (LCC)
Methodology and techniques of life cycle costing
LCC case studies (building systems, layout alternatives)
Computer template for analyzing the life cycle costs of alternatives
Value Engineering
Assuring best value for dollars spent
Value methodology process & tools
