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Construction Estimating - Webinar

  • ID: 4720027
  • Webinar
  • February 2019
  • Region: Global
  • 90 pages
  • Lorman Business Center, Inc.
Understand the concept of construction cost estimating and how to avoid common estimating mistakes.

Cost estimating is one part of the total construction project management team effort. It impacts many other departments such as procurement, scheduling, accounting and finance, and others. Although cost estimators may need to know all the ins and outs in the process of cost estimating, everyone involved in the management of the construction project needs to be familiar with the cost estimate and the estimating process. Cost estimating is an important subject to those in the legal department because disputes arise typically in almost every construction project, with the cost as the core issue in the dispute. This information is recommended for architects and engineers who are involved in the design of construction projects as well as owners of such projects.

Learning Objectives
  • You will be able to review the concept of construction cost estimating including the major cost categories.
  • You will be able to identify the methodologies of both approximate and detailed estimates.
  • You will be able to recognize the difference between direct and indirect cost categories, and how to estimate each.
  • You will be able to describe common mistakes in cost estimating so you can avoid them.
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Importance of "Mathematical Intuition" for Cost Estimators

Introduction to Cost Estimating
  • Definitions: Quantity Estimating/Surveying, Cost Estimating, Cost Engineering, Cost Control, Cost Management
  • Types of Estimates and Their Uses
  • Types of Construction Contracts and the Impact on the Cost Estimate
  • Total Project Cost to an Owner
  • To Bid or Not to Bid; Factors Impacting the Decision to Bid
  • Direct Versus Indirect Cost
  • Work Breakdown Structure (WBS) and the CSI MasterFormat
  • Schedule of Values
  • Construction Cost Estimating as It Relates to Project Scheduling and Project Control
Estimating Indirect Cost
  • Bonds and Insurance
  • Estimating General and Job/Project Overhead
  • Estimating Profit and Contingency
  • Estimating Inflation/Escalation
  • Allocating Indirect Costs
Construction Cost Estimating
  • Estimating Labor and Equipment
  • Materials Estimating
  • Tips on Quantity Take Offs
  • Cost Estimating Database/Sources of Pricing
Cost Control
  • The Baseline Budget
  • Progress Payments
  • Change Orders
Approximate Estimates

A Quick Look at Rsmeans Online Estimating
  • [external URL]
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Saleh Mubarak - Saleh A. Mubarak, Ph. D.
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This webinar is designed for construction and project managers, engineers, presidents, vice presidents, owners, architects, contractors, subcontractors, contract managers and construction professionals.
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