Understand the concept of construction cost estimating and how to avoid common estimating mistakes.
An effective construction cost estimator is one of the key personnel in an engineering and construction company. Without one the firm will inevitably bid too low and not make enough money to cover the company’s overhead and make a profit or bid too high and not be awarded any contracts. We will discuss how to mix standard cost estimating techniques and strategies that will be gained by experience. We will discuss the different purposes of the estimate during design-bid-build projects as well as design-build delivery methods. We will describe the importance of using company historical data, standard estimating guides, opinions of senior members of your firm, and a detailed review by another estimator to arrive at a reasonable bid. The class will describe how to present cost data to the owner or president of your company as well as to clients in a concise manner. We will discuss the uses of unit price guides.Learning Objectives
- You will be able to define the process of performing highly accurate material take-offs.
- You will be able to describe the problems with using AI and estimating software.
- You will be able to discuss how to use the material take-off data to complete a bid that is competitive.
- You will be able to identify unknowns that need to be characterized and quantified.
Agenda
The Pitfalls of Using AI in Construction Estimating- AI Must Be Trained
- May Not Have Relevant Data
- Cannot Understand the Nuances of Construction
- Cannot Visit the Site
- Requires a 100% Check
- Need to Spend Time Correcting Erroneous Data
- Know Your Company’s Capabilities
- Understand the Type of Information the Leadership Team Requires to Make Major Decisions
- How to Check Your Work by Several Methods
- The Importance of Highly Accurate Material Take-Offs
- Understand the Project as a Whole Before Performing the Take-off
- Know the Current Price of Materials and Availability of Labor
- Understand the Uses and Limitations of Estimating Guides
- Requires More Assumptions
- Used for Making Major Decisions
Speaker(s)
Keith WarwickKeith Warwick, P.E.
- Owned my own firm, Warwick Environmental Institute, since 2008.
- Performed engineering, construction management, and cost estimating throughout my 35 year career.
- Conducted 210 (two hundred and ten) environmental, safety, and health site visits.
- Conducted 105 (one hundred and five) construction site visits to determine whether the contractor’s billing was correct and whether the work was progressing within budget.
- Supervised 17 (seventeen) technicians at a construction materials testing company
- Verified that construction was performed in an acceptable manner at 85 (eighty five) buildings, most valued at over $50,000,000 (fifty million dollars).
- Licensed civil engineer in New York, California, and Illinois.
- College engineering instructor and conducted many webinars on engineering, environmental, safety, and construction.
- B.S. in civil engineering from the University of California at Davis.
- Licensed civil engineer in New York, Illinois, and California.
- Life member of the American Society of Civil Engineers.
