Case Study of Akashi-Kaikyo, The Longest Suspension Bridge.
Unit Rates Estimating Units rates estimating is a topic which any skilled cost estimator should master. Having a strong understanding of what is included in a unit rate, how a unit rate is impacted by various factors, simple versus complex unit rates, etc. opens the door for a cost estimator to achieve better productivity, increase […]
Capital Cost Estimating – Owner’s Costs in an EPC Project Delivery Method
What are Owner’s Costs in an EPC Capital Project? This is a question that comes up quite often in capital cost estimating. So, I thought I would share my point of view and experience on this subject. Generally speaking, I would say that the Owner’s costs are all the costs required to bring a project […]
Construction Cost Estimating. Bottom-up, Top-down or…Sideways?
Yes, the many faces of cost estimating in construction… Construction cost estimating can take many forms and shapes. I am writing this article for those unfamiliar with the conceptual cost estimating field. It is a field that is worthwhile exploring. It gives a cost estimator more exposure to the field, adds more career development and, […]
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 […]
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 […]