Estimates

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Information about Estimates

Published on November 30, 2008

Author: eeany

Source: slideshare.net

Description

ARC 366 Presentation - Farmingdale State College

Designing Project Budgets Eric Anderson, AIA Farmingdale State College

Main Entry: bud·get Pronunciation: 'b&-j&t Function: noun Etymology: Middle English bowgette, from Middle French bougette, diminutive of bouge leather bag, from Latin bulga, of Celtic origin; akin to Middle Irish bolg bag; akin to Old English belg bag -- more at BELLY Date: 15th century 1 chiefly dialect : a usually leather pouch, wallet, or pack; also : its contents 2 : STOCK, SUPPLY 3 : a quantity (as of energy or water) involved in, available for, or assignable to a particular situation; also : an account of gains and losses of such a quantity 4 a plan for the coordination of resources and expenditures c : the amount of money that is available for, required for, or assigned to a particular purpose Main Entry: es·ti·mate Pronunciation: 'es-t&-"mAt Function: transitive verb Etymology: Latin aestimatus, past participle of aestimare to value, estimate Date: circa 1532 1 archaic a : ESTEEM b : APPRAISE 2 a : to judge tentatively or approximately the value, worth, or significance of b : to determine roughly the size, extent, or nature of c : to produce a statement of the approximate cost of 3 : JUDGE, CONCLUDE

Main Entry: bud·get

Pronunciation: 'b&-j&t

Function: noun

Etymology: Middle English bowgette, from Middle French bougette, diminutive of bouge leather bag, from Latin bulga, of Celtic origin; akin to Middle Irish bolg bag; akin to Old English belg bag -- more at BELLY Date: 15th century

1 chiefly dialect : a usually leather pouch, wallet, or pack; also : its contents

2 : STOCK, SUPPLY

3 : a quantity (as of energy or water) involved in, available for, or assignable to a particular situation; also : an account of gains and losses of such a quantity

4 a plan for the coordination of resources and expenditures c : the amount of money that is available for, required for, or assigned to a particular purpose

Main Entry: es·ti·mate

Pronunciation: 'es-t&-"mAt

Function: transitive verb

Etymology: Latin aestimatus, past participle of aestimare to value, estimate

Date: circa 1532

1 archaic a : ESTEEM b : APPRAISE

2 a : to judge tentatively or approximately the value, worth, or significance of b : to determine roughly the size, extent, or nature of c : to produce a statement of the approximate cost of

3 : JUDGE, CONCLUDE

R.S. Means Building Glossary Budget : A rough estimate of the value of a portion of, or total cost of, a construction project. Estimate : The anticipated cost of materials, labor, equipment, or any combination of these for a proposed construction project.

Budget :

A rough estimate of the value of a portion of, or total cost of, a construction project.

Estimate :

The anticipated cost of materials, labor, equipment, or any combination of these for a proposed construction project.

Sources of Information Cost date from previous projects Estimating guides - published and online Local contractors Quantity surveyors and estimators Personal experience

Cost date from previous projects

Estimating guides - published and online

Local contractors

Quantity surveyors and estimators

Personal experience

Cost Planning Types Order of Magnitude Unit cost estimates By function By building type By construction assembly

Order of Magnitude

Unit cost estimates

By function

By building type

By construction assembly

Cost Planning We always must have : Building Type Program or Gross Area Site

We always must have :

Building Type

Program or Gross Area

Site

Cost Planning A cost plan or budget should include: Design costs Construction costs Fixtures, Furnishings, and Equipment costs Project Management costs

A cost plan or budget should include:

Design costs

Construction costs

Fixtures, Furnishings, and Equipment costs

Project Management costs

Cost Planning Design Costs Basic Services Additional Services Reimbursable Expenses Special Consultants

Design Costs

Basic Services

Additional Services

Reimbursable Expenses

Special Consultants

Cost Planning Construction Costs Conceptual SF Building Type By elements Uniformat Allowances Alternates Estimates By unit price (take-off) Union vs.. Open Shop Allowances Alternates

Construction Costs

Conceptual

SF Building Type

By elements Uniformat

Allowances

Alternates

Estimates

By unit price (take-off)

Union vs..

Open Shop

Allowances

Alternates

Cost Planning FFE Costs Furnishing Toilet and Kitchen Accessories Sign Systems Specialized Equipment Artwork

FFE Costs

Furnishing

Toilet and Kitchen Accessories

Sign Systems

Specialized Equipment

Artwork

Cost Planning Project Management Costs General Conditions/ Overhead & Profit Surveying Geotechnical Services Plan Review Permits Testing and Inspection

Project Management Costs

General Conditions/ Overhead & Profit

Surveying

Geotechnical Services

Plan Review

Permits

Testing and Inspection

Cost Planning We adjust budgets : Contingencies by conditions Other factors We adjust estimates with: Contingencies by phase Escalation to the mid-point of construction Other factors

We adjust budgets :

Contingencies by conditions

Other factors

We adjust estimates with:

Contingencies by phase

Escalation to the mid-point of construction

Other factors

Contingencies for Budgets By conditions : Site Constraints: -5 to 15% Labor Availability : -5 to 10% Material Availability: 0 to 10% Document Quality: 0 to 20%

By conditions :

Site Constraints: -5 to 15%

Labor Availability : -5 to 10%

Material Availability: 0 to 10%

Document Quality: 0 to 20%

Contingencies for Estimates By phase : Concept and Schematic: 15% Design Development : 10% Escalation to the mid-point of construction Other factors

By phase :

Concept and Schematic: 15%

Design Development : 10%

Escalation to the mid-point of construction

Other factors

Escalation Inflation rate affecting the estimate between the time it is prepared and the midpoint of the projected construction schedule

Inflation rate affecting the estimate between the time it is prepared and the midpoint of the projected construction schedule

Cost Projections + Contingencies + Escalation Project Budget Elements of a Budget

Cost Projections

+ Contingencies

+ Escalation

Project Budget

DRVC Budget Planner Ohio State Architect’s Office Capital Budget Planning Tool Cost Planning Samples

DRVC Budget Planner

Ohio State Architect’s Office

Capital Budget Planning Tool

High Median Low Develop Budget Ranges

High

Median

Low

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