Unit Rates for Cost Estimating – Six Easy Steps to Build All-inclusive Unit Rates
All-inclusive Unit Rates Definition A few readers asked how to build the all-inclusive unit rates. The easiest way to explain it is to start by defining it. In one short sentence, an all-inclusive unit rate includes all costs and markups that we want to recover when we use/charge that specific unit rate. For example, if […]
The Most Revolutionary New Construction Technologies
Guest Post by: Jason Hurdis, Sr. Market Professional, Caterpillar Inc. Tim Crane, General Manager Safety Services, Caterpillar Inc. The construction industry has transformed drastically over the past 20 years. Smartphone apps have enabled real-time information exchange; armloads of files and blueprints are being replaced by a few taps on a tablet. Technology is changing almost […]
Cost Estimate Planning, or not?
Cost Estimate Planning. Do you have a plan? Cost estimate planning is an activity that I always take it very seriously. I know some of the projects we work on are small(er) and do not justify implementing a full cost estimate development plan. For those projects, I implement the steps which I consider the most […]
Composite Crew Rates in Cost Estimating
What Are Composite Crew Rates Detailed cost estimating best practice for determining labour and construction equipment costs is determining composite crew rates. The composite crew rates are the averages weighted to account for: labour and equipment costs and units per activity/task unit of measure. Let’s say we want to determine the costs of culvert installation. […]
Planning Your Cost Estimate For Success
Cost Estimator’s Biggest Challenge Cost estimate development is the roadmap to producing reliable cost estimates. But, as it turns out time is a hot commodity for a cost estimator, and to make the most of it, we need to plan ahead meticulously. If you make a living working for a construction firm, you know exactly […]
The Vital Skill Each Cost Estimator Should Master
Detailed Cost Estimating Skills And the secret is in the details! Throughout my 30+ years in the construction industry, many of those in the cost estimating field, I met great estimators and estimators lacking the confidence to say: Yes, I calculated this cost, this is how I did it, and this is the benchmark data […]