Construction Cost Estimation Michael Mincic Civil Engineering Technology Department 22 February...
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![Page 1: Construction Cost Estimation Michael Mincic Civil Engineering Technology Department 22 February 2007.](https://reader036.fdocuments.us/reader036/viewer/2022062320/56649c8f5503460f94949235/html5/thumbnails/1.jpg)
Construction Cost Estimation
Michael MincicCivil Engineering Technology
Department22 February 2007
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Civil Engineering Technology at CSU-Pueblo
• Bachelor of Science CET– Four year degree
accredited by the Accreditation Board for Engineering and Technology TAC-(ABET)
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Outline
1. Construction Cost Estimating
2. Bid Documents
3. The Estimation Process
4. Cost of Construction Labor & Equipment
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Construction Cost Estimating
• Estimating is not an exact science!• Construction knowledge• Common sense• Good judgment• Lots of Luck!!!
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Types of estimates
• The construction process players– The Owner– The Designer– The Contractor
• Approximate Estimates
• Detailed Estimates
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Organization of Estimates
• See Steps for preparing a detailed estimate (pg. 8, Table 1.2)
• CSI Format– Building Construction– 16 major divisions
• WBS Format– Heavy Engineering
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Awareness of Estimation Items
• Quantity Take-Off• Labor and Equipment
crews• Checklist of
Operations• Bid Documents• Addenda & Change
Orders• Overhead
• Material Taxes• Labor Costs• Workmen’s
Compensation Insurance
• Labor Burden• Bonds• Insurance
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Bid Documents & Contract Documents
• Bid Document– Before Agreement
• Contract Document– After Agreement
• Architect– building type
• Engineer– Heavy/Industrial
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Bid Documents
• Contract Requirements
• Arrangement of Contract Documents– Business/legal matters– Technical matters
• Building Construction Specs
• Heavy/Highway Specs
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Bid Documents
• Requirements• Bid Solicitation• Instructions to Bidders
– Time of completion– Obligation of Bidder
• Information Available to Bidders• Bid Forms
– Lump sum– Unit price
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Drawings
• Heavy/Highway– Plan, profile,
earthwork, cross section, details, schedules, etc.
• Building Construction Drawings– Civil– Architectural– Structural
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Decision to Bid
• Assess the desire to Bid– Do we want to bid this project?– Do we have the skills to complete this project?– Do we have the available labor to complete this
project?– Do we have the necessary equipment to complete
this project?– Do we have experience with similar projects?– How busy are we?– Can we bond for the additional work with the existing
projects?
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Additional Decisions to Bid
• Geographic Location• Complexity of the
Project• Owner’s Reputation• Designer’s Reputation• Do we want to
expand?
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Sources of Labor Rates
• Union Wage– Predetermined by
contractor’s union
• Open-Shop– Agreed upon by the
employer and employee
• Prevailing rate– Dependant on the local
area
• The Cost of Labor
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Employee Costs
• Social Security Tax
• Unemployment Compensation Tax
• Worker’s Compensation Insurance
• Public Liability & Property Damage Insurance
• Fringe Benefits