Estimate Based on Working Drawings

Test Your Knowledge

Quiz: Estimating Based on Working Drawings (Class A Estimates)

Instructions: Choose the best answer for each question.

1. What is the primary source of information for a Class A Estimate? a) Previous project budgets b) Contractor bids c) Working drawings d) Market research

2. Which of the following is NOT a key characteristic of a Class A Estimate? a) Detailed breakdown of project elements b) Based on preliminary sketches c) Specialized expertise required d) Iterative process

3. Why are Class A Estimates considered vital for risk management? a) They guarantee project completion within budget. b) They identify potential cost overruns early on. c) They eliminate the need for contingencies. d) They predict future market fluctuations.

4. Which of the following is an example of an element that would be included in a Class A Estimate for a commercial building project? a) Cost of marketing materials b) Salary of the project manager c) Number of employees working on the project d) Quantity of concrete for the foundation

5. What is the main purpose of a Class A Estimate? a) To determine the profitability of a project. b) To secure funding for a project. c) To provide an accurate cost projection for a project. d) To finalize the project schedule.

Exercise: Class A Estimate Application

Scenario: You are tasked with creating a preliminary Class A Estimate for a residential renovation project. The working drawings indicate the following:

• Kitchen Remodel: New cabinets, countertops, flooring, appliances (including a new refrigerator, oven, and dishwasher).
• Bathroom Remodel: New shower, bathtub, vanity, flooring, and fixtures.
• Exterior Painting: Repainting the entire house.

Instructions:

1. Break down the project into its major components (e.g., kitchen remodel, bathroom remodel, exterior painting).
2. List the key elements within each component (e.g., cabinets, countertops, flooring for the kitchen).
3. For each element, consider the materials, labor, and potential contingencies that would need to be factored into the estimate.
4. Provide a brief description of how you would research costs for each element (e.g., online resources, material suppliers, local contractors).

Techniques

Chapter 1: Techniques for Estimating Based on Working Drawings

This chapter delves into the specific techniques used in developing Class A estimates, highlighting the key steps involved in generating accurate and reliable cost projections.

1.1 Gathering Project Information:

• Reviewing Working Drawings: Thorough analysis of architectural, structural, mechanical, and electrical drawings to understand the project scope, complexity, and materials required.
• Studying Specifications: Analyzing detailed technical specifications outlining materials, finishes, and construction methods to ensure a precise cost breakdown.
• Gathering Site Information: Collecting data on site conditions, accessibility, and potential challenges that may impact costs.
• Analyzing Bidding Documents: Reviewing bidding documents to identify requirements, payment terms, and other relevant information.

1.2 Cost Breakdown Structure (CBS):

• Defining Work Packages: Organizing the project into distinct work packages (e.g., foundation, framing, roofing, finishes) to facilitate a systematic cost analysis.
• Developing Cost Codes: Assigning unique cost codes to each work package to enable tracking and reporting.
• Creating Cost Matrix: Establishing a comprehensive cost matrix that outlines the breakdown of costs for each work package, including labor, materials, equipment, and overhead.

1.3 Cost Estimating Methods:

• Unit Cost Method: Estimating costs based on unit quantities (e.g., square footage, cubic yards) and historical unit costs for similar projects.
• Assembly Method: Using pre-defined cost assemblies (e.g., walls, floors, ceilings) with known cost components for quicker estimation.
• Parametric Modeling: Employing statistical relationships between project characteristics (e.g., building size, complexity) and cost to generate estimates.
• Cost Indices and Escalation: Using cost indices to adjust historical costs for inflation and regional price fluctuations.

1.4 Quantity Take-Off (QTO):

• Measuring Drawings: Accurately measuring quantities of materials, labor, and equipment from the working drawings.
• Using Software Tools: Employing specialized QTO software for efficient measurement and calculations.
• Verifying Quantities: Cross-checking quantities with design professionals and subcontractors to ensure accuracy.

1.5 Cost Modeling and Sensitivity Analysis:

• Developing Cost Models: Creating spreadsheet models or specialized software simulations to analyze cost dependencies and potential cost overruns.
• Performing Sensitivity Analysis: Evaluating the impact of different cost variables (e.g., material price fluctuations, labor rates) on the overall project cost.

1.6 Risk Assessment and Contingency Planning:

• Identifying Potential Risks: Analyzing project-specific risks that could impact costs, such as weather delays, material shortages, or labor strikes.
• Developing Contingency Plans: Establishing backup strategies and cost buffers to mitigate the impact of potential risks.

Conclusion:

By employing these techniques, estimators can develop comprehensive Class A estimates that provide a reliable foundation for informed decision-making in project planning and execution. Accurate cost estimations are crucial for successful project delivery, minimizing financial risks, and optimizing resources.