How much will it cost to build? How much can I bid and make a profit? How much will this change order cost? How much will this delay cost? How much will it cost to repair? How can I track my costs during construction? Where are the errors in the estimate and cost accounting?
Accurate cost estimates, based upon an established work scope, can answer these questions and serve as a basis for job cost accounting, as well as a benchmark for progress payments, claims assessment and future costs to build.
KGA estimating services and job cost accounting audit are diverse in the types of projects and the level of detail. Some general types of estimates are as follows:
• Order of Magnitude: used to get a general idea of the cost to build, repair or replace.
• Conceptual: based upon initial design development drawings, these estimates allow for “What if?” scenarios and substitutions of entire building components prior to final design.
• Detailed: includes a comprehensive list of all necessary labor, materials and equipment in sufficient detail to convert the cost estimate directly into a project job cost accounting ledger (based upon a completed set of contract documents).
• Parametric: Utilizes a cost model and historical project cost data to develop a reliable opinion of cost; frequently used for peer review or when an independent analysis of an estimate is desired.
KGA’s estimating systems are fully automated, adaptable to standard computer programs, and easily transferable for update via email. The estimates are also structured to summarize as-bid versus as-built costs for use in future bidding.
• Certified Professional Estimator (American Society of Professional Estimators)