Pricing Risk in Construction Tenders

Risk Pricing Approach The approach to risk pricing varies with the organization. For the most part, there are a few basic methods: Risk pricing is an entirely separate activity that follows the base estimate completion, Risk pricing is an integral component of the base estimate preparation, Risk pricing takes place during and after the base estimate […]

Maximizing Profits – Estimator’s Role

Efficiency versus Productivity Estimating a construction project for bidding is a task that requires a multitude of skills. Cost estimating skills are obviously the top set of competencies that good estimators have to master. To be a great estimator, one needs to go beyond productivity and become efficient at cost estimating. Most people when asked what they […]

Construction Market in 2016 – The Good and The Bad

North American Construction Landscape in 2016 Positive outlook for the construction industry in 2016 is something that not all of us would expect. Particularly for those involved in the oil & gas and pipeline construction markets. The truth is the construction market keeps a positive momentum, just shifting from one sector to another. The word […]

Project Delivery Methods

Project Delivery Methods and the Impact on Project Success Among the many factors that have a great effect on the successful delivery of a project is the project delivery method. Choosing the right one can make it or break it for a project. The project delivery method is sometimes not considered to be a necessary […]

Contingency in Capital Cost Estimating

Definition and Methods to Calculate Contingency Owners add contingency to a project to deal with the project overruns due to uncertainties. A large number of projects are finished with costs and schedule overruns. This is why, as a cost estimator on a capital project, it is very important to understand how to use contingency and […]