Main Sources Of Cost Data

592 Week 1 DQ 1 WBS Construction PROJ 592 Week 1 DQ 2 Project Cost Estimates and Assumptions PROJ 592 Week 2 DQ 1 Cost Components PROJ 592 Week 2 DQ 2 Estimating Processes PROJ 592 Week 3 DQ 1 Project Schedules PROJ 592 Week 3 DQ 2 Sensitivity Analysis PROJ 592 Week 4 DQ 1 Resource Allocation and Leveling PROJ 592 Week 4 DQ 2 Advanced Schedule Techniques PROJ 592 Week 5 DQ 1 Earned Value Calculation PROJ 592 Week 5 DQ 2 Project Monitoring and Control & EV PROJ 592 Week 6 DQ 1 Forecasting Project Completion Cost PROJ 592 Week 6 DQ 2 Project Control PROJ 592

1.1 This report will provide guidance for the procedure of preparing an estimate for building works. It will include the factors that affect the overall cost of the project explaining them in general as well as explaining them on the example provided.

When you are seeking prices for a project that requires construction, you go to a contractor, not an architect. Following this protocol will get you the best prices.

In his paper, the author explains us how the technology advancement is taking place, how 2D modelling started initially, how it led to 3D modelling and now how building information modelling techniques are being linked to 3D modelling. BIM is not just about modelling, but it also includes project planning, design and construction. He clearly explains what BIM is in the form of a flow chart. Where he says that B in BIM stands for Residential, commercial, healthcare, institutional, sports and entertainment, I in BIM stands for Spatial, element, systems, quantities, schedule, operations and M in BIM stands for site, architectural, structural, MEP systems, sustainability and management. This all phases of the program are a continuous chain where programming, design, pre construction, construction, operations, and demolition are done. This research also supports that the concept of building information modelling is not only useful for the building’s geometric modelling, but also it can assist in the management of construction projects. In this research, the author has collected information from 35 construction projects that have already utilized BIM. The most common result that was observed was the cost reduction. For some people, BIM is a software application, where as for others, it is a process for designing and documenting

With the results of interviewing the senior estimator in GLY Construction, from our perspective, we have a couple of points that we want to illustrate towards how GLY Construction allocate their home-office overhead cost (See Table 1) to construction projects. Moreover, it is obvious that each construction company has its point of view to think about how the allocation of this cost should be done.

Clough, Richard H, Glenn A. Sears, S K. Sears, Robert O. Segner, and Jerald L. Rounds. Construction Contracting: A Practical Guide to Company Management. , 2015. Print.

On February 1, 2010, Marsh Contractors agreed to construct a building at a contract price of $6,000,000. Marsh estimated total construction costs would be $4,000,000 and the project would be finished in 2012. Information relating to the costs and billings for this contract is as follows:

The design and construction of buildings can be a complicated business involving different professions, contractors, sub-contractors and operatives. This type of work is varied and employs many construction personnel with different roles and responsibilities, working together to complete a project in as successful way- on time, on budget and to the right specification. A large project would involve a great number of different activities:

This essay aims to offer an outline of the main points and aspects of the scope and importance of Building Information Modelling in three key areas in construction projects:

It is essential that project managers have a thorough understanding of procurement concepts, and the contracts that are involved in the practice. This assignment will focus on the types (Fixed Price, Cost Reimbursable, and Time and Material), and subtypes of procurement contracts, and discuss the pros, cons, and the burden of risk of each. At the end of the assessment, (FFP). This a clear understanding of which type of contract is least advantageous choice for the ACME breakroom construction project. Further, the paper will highlight this type of contract is a bad choice, and discuss

For this assignment the writer is going to discuss the nature and types of construction contracts and will explain the legal responsibilities of the various parties involved in the design and the construction process.

Professional behavior and discipline is always expected of the cost estimator since construction estimating tends to be highly technical. Estimators must also exercise holding good morals, because more often than not they receive pressure from other members of the construction team to make short-term decisions that can lead to inaccurate estimates. Resistance to this type of pressure is a part of the estimator’s job and can be beneficial to everyone in the long run. Integrity is another trait expected upon the estimator. Another important trait is to have good judgment. This is a skill obtained through proper training as well as extensive experience in the construction field. The proper use of judgment could mean the difference between profit and loss for the company or client. Estimators should approach each estimate with a professional

Over the past few years, the construction industry has been changing dramatically. One of the most important stages in the construction management and business management is the planning phase. They share similar two main levels of planning which are the strategic and operational planning. However, business management planning to decide in advance what should be done, and how to do it, when you do and you are done. On the other hand, Construction management strategic planning is to deal with selection on a high level of overall objective of the project, including the scope, procurement methods, schedules and financing options but the planning of operations, including the

Each and every elements of the building will be drawn after the estimating. This document is most important to prepare the Bills of Quantities (BOQ) (Figure 5). In this stage QSs have a great responsibility to prepare this document accurately and

Mrs Jackson has recently moved to the UK and has plans to build a number of developments. My client intends to build high end luxury apartment in the area of Kensington. It will be accomplished by using a traditional procurement due to the fact that my client would like to have an influential say in the design and the construction. Mrs Jackson plans on building ten spacious serviced apartments. The idea is to renovate an existing building in the area and once the apartments are fit for purpose they will be