Project Cost Estimates
Cost Budget Estimate
An initial
cost budget estimate is prepared prior to the start of the design.
This cost "model" is based on the Owner's
"quality expectations" and the anticipated design and
engineering responses. KIRK Associates historical parametric cost
database of similar project types, along with other sources, are
used to develop a UNIFORMAT building system breakdown of the major
elements of the project construction cost.
In addition to the construction cost, other items are added
to establish the project cost.
These cost could include: owner administrative costs, A/E
fees, construction management fees, real estate and legal costs,
and reservation costs for such things as change orders during
construction, furniture, equipment, and move-in/relocation fees. This budget cost model is then used throughout the remainder
of the project for cost comparisons with the actual design.
Conceptual Estimate
The
conceptual estimate prepared by KIRK Associates is an expression
of the construction costs based upon the facility program data,
configuration sketches and building system narrative prepared by
the project team members. Several
computerized estimating tools are used to prepare this estimate
including KIRK Associates unique VeNTURE cost simulation.
The conceptual cost estimate is organized into UNIFORMAT
building systems for review by the Owner and project team members.
Schematic Estimate
The
schematic estimate prepared by KIRK Associates is a construction
cost investigation based upon the proposed design scheme and a
quantitative analysis of the project components utilizing both
historical and analytically derived unit costs.
This estimate enables the project team members to compare
the owner's budget with estimated cost of the specific design
starting to evolve. As
in the conceptual estimate, all of the above information is
organized into UNIFORMAT building systems for ease of review and
comparison. Other cost accounting breakdowns are also prepared depending
on the budgetary requirements of the owner.
These sometimes include: CSI construction specification
codes, owner cost accounts, portions of the building, or by
project bid packages.
Design Development Estimate
The design
development estimate prepared by KIRK Associates is a comprehensive
construction cost analysis based upon quantities derived from a
definitive set of drawings and actual job site conditions.
Computerized techniques are used to prepare this estimate.
This estimate permits verification that the original design
criteria and scope of work is being followed.
During this phase, any variances from the scope of work can
be documented for adjustment during the final design stage.
Construction Document (Final) Estimate
The
construction document estimate prepared by KIRK Associates is a
comprehensive construction cost analysis based upon a quantitative
material take-off priced with actual in-place costs, to verify that
the scope of work has not exceeded the approved project funding.
This estimate can be updated, as required, to be used as the final
or "pre-bid" estimate. This estimate is also used to
access the reasonableness of contractor bids.
It can also be used as an aid in negotiating the final price
with contractors. If
required, the CSI format can be provided to compare subcontract
costs.
Bulletin Estimates
During the construction
phase of the project, changes in the work because of unknown
conditions or Owner directed modifications create work orders to be
issued by the A/E. These
bulletins are routinely estimated for the Owner's comparison and
negotiation with the contractor. Significant savings can be achieved
for the Owner by performing this estimate for use in negotiating
more favorable prices with the contractor.
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