It is important to note that the more accurate a method, the costlier and time consuming it becomes. For this reason, it’s not always advisable to use bottom-up estimating when you are short on time or resources, even though it might be the most accurate.
We start by doing a full review of the drawings and specs.
To respective Estimator
Break out the project into divisions and we assign each division to the respective estimator. Most of our estimators have 20-30 years of experience in their respective trade.
Quantities of materials
we use on screen take-off tools to get the quantities of material.
Once the quantities are obtained then we can insert it into our RsMeans database to get priceing for the respective project location.
3D models for understanding
Typically generate a 3d model to improve project understanding
- This technique uses three estimates to calculate the average estimate.
- The three estimates are the most likely cost, the pessimistic cost, and the optimistic cost.
- It reduces bias, risk, and uncertainty from the estimation.
- It is more accurate than the analogous and parametric estimating techniques.
- It is the fastest technique to estimate cost but least accurate.
- This technique can be used with limited information available about the project.
- This is the most accurate technique of all the techniques presented.
- This technique can only be used when every detail about the project is available.
- This is a time-consuming and costly technique, but gives the most reliable and accurate result.
- This technique uses the statistical relationship between historical data and variables
- It is more accurate than the analogous estimation.
RSMeans is North America’s leading supplier of construction cost information. A product line of The Gordian Group, RSMeans® provides accurate and up-to-date cost information that helps owners, developers, architects, engineers, contractors and others to carefully and precisely project and control the cost of both new building construction and renovation projects. RSMeans keeps track of costs for you, along with a wide range of other key information, including productivity rates, crew composition, and contractor’s overhead and profit rates.
In addition to its collection of annual construction cost data books, RSMeans also offers construction estimating and facilities management seminars, electronic cost databases and software, reference books, and enterprise solutions.
How the Database is Built
Construction costs are comprised of material, labor and/or equipment prices and can be referenced at the unit, assembly or square foot level of detail.
Ex. Brick Wall
Ex. Brick Building
BIM is a process that can be used to assist in the generation of accurate quantity take-offs and cost estimates throughout the lifecycle of a project. This process allows the project team to see the cost effects of their changes, during all phases of the project, which can help curb excessive budget overruns due to project modifications. Specifically, BIM can provide cost effects of additions and modifications, with potential to save time and money and is most beneficial in the early design stages of a project.
What is BIM
Potential Value ( RSMeans & BIM )
- Precisely quantify modeled materials.
- Generate more cost estimates at a faster rate.
- Provide cost information to the owner during the early decision making phase of design and throughout the lifecycle, including changes during construction.
- Allows estimator’s to focus on more value adding activities in estimating such as: identifying construction assemblies, generating pricing and factoring risks, which are essential for high quality estimates.
- Better visual representation of project and construction elements that must be estimated.
- Added to a construction schedule (such as a 4D Model), a BIM developed cost estimate can help track budgets throughout construction.
- Easier exploration of different design options and concepts within the owner’s budget.
- Quickly determine costs of specific objects.
- Easier to train new estimators through this highly visual process.