Summary Report of Building Cost Estimates

1.

Summary Report of Building Cost Estimates
Dyrin D. СТ(ЭУН)мз-24

2.

Building Cost Estimates Classification
1. Degree of Project Definition: Based on the percentage of
completed architectural and engineering designs, this classification
defines the available input information for the estimator.
2. End Usage of the Estimate: This classification is based on
available data and is used for purposes such as feasibility studies,
budgets, bids, and detailed contractor estimates.
3. Estimate Generating Methodology: This classification is based
on processes employed to forecast building costs, which can be
stochastic or deterministic.
- Stochastic Approach: Costs are estimated based on the quantity of
work units being installed, influenced by many variables considered by
experienced estimators.
- Deterministic Approach: The project is well-defined, and costs are
estimated as a product of price per unit and units.

3.

Conceptual Estimates (Engineer's Estimate)
Conceptual estimates often use published unit cost averages per unit
area, volume, or occupancy. The process involves:
1. Determining the usable area, volume, or number of occupant units.
2. Selecting the most recently published standards for the type of
building.
3. Adjusting selected standard costs for the project's location using
regional adjustment factors.
4. Fine-tuning the time-adjusted costs by site differences or special
requirements.
5. Correcting adjusted unit cost with the time factor (usually inflation).

4.

Estimate Types, Frequencies, and Usages
Labor-Only Estimates: Where the contractor provides only the labor for
installation.
Total Direct Cost Estimates: Where the contractor provides the total
direct cost for each unit of work installed.
Unit Bid Estimates: Similar to total direct cost estimates but based on an
estimated quantity of work.
Lump-Sum Estimates: Applicable when design documents are 90 to
100% completed.

5.

Unit Price Estimating
One Unit Crew-Hour Estimate: Estimating labor costs based on crew
composition and productivity rates.
Unit Direct Cost: Figuring the cost of materials, labor, and equipment
for each unit of work.

6.

Overall, the document emphasizes the importance of
accurate cost estimation and meticulous planning at all
stages of a construction project, enabling effective
management of costs, schedules, and scope.