7/25/2023 - Construction Cost Estimating Concepts & Practice
Today’s construction professional, whether a project manager or designer, has more responsibilities than ever before. As a result, new skills are required to meet those challenges. In this increasingly cost-conscious industry, the professional is being asked to explore more cost-effective options in order to keep costs to a minimum. Therefore, one needs good estimating skills. Experienced professionals can update and enhance their estimating skills by building on what they know. Novices can learn the basics to create a solid foundation that allows them to apply the basics immediately.
- Learn how to use the plans and specifications to create the estimate. Learn what information can be expected from each document and how it is applied.
- The Takeoff process - Learn how to derive all of the tasks in the correct quantities, which is essential for a professional estimate.
- Develop pricing using various pricing sources, and understand how subcontractor pricing fits in.
- Creating, reviewing, recapping, and summarizing estimates.
- Evaluating subcontractors’ proposals and prices.
- Adding insurances on the work, the employees, and bonding.
- Understand how labor costs are calculated, along with regular and premium wages.
- The estimate is the in-house portion of the work for drafting a proposal or submitting a bid.
What Will Be Covered
This class starts with the details of interpreting bid documents and ends with the summary of the estimate and the submission of the bid. It is presented in terms that can be applied by all disciplines, whether you are an owner, design professional, general contractor, or subcontractor. The practical skills are identical and have similar applications regardless of discipline or whether an attendee’s practice is commercial or residential construction. Everyone benefits from the unique perspective that is derived from understanding the process as practiced by the professional. All parties to the construction process can benefit from knowing how to estimate as a professional. Choose from different cost data preferences to fully tailor your estimate as needed.
Materials Included (Received on-site on the first day of training)
- Estimating Building Costs
- Construction Cost Estimating Concepts and Practices Workbook
Who Should Attend
Project managers, architects, engineers, owners’ representatives, contractors, and anyone responsible for budgeting or estimating construction projects.
Continuing Education Credit Eligibility
Approved for Continuing Education Units by the Association for the Advancement of Cost Engineering (AACE) International Certification Board Continuing Education Units:
AACE: 7 hours, 0.7 CEU’s
Lodging & Travel
Registration for this seminar does not include travel or accommodations.
Dinner, lodging, airfare and transportation to and from the venue are the responsibility of the student. A complimentary full buffet and cooked-to-order breakfast will be available for hotel guests before class starts. Refreshments will be provided throughout the day. The hotel is offering attendees a discounted room rate of $159/night if they book prior to July 3rd, 2023 and mention "Gordian RSMeans Training" event name during booking.