We provide professionally prepared independent construction cost estimates for architects/engineers, institutions, governmental agencies and developers/owners. We begin with a conceptual budget that is prepared from very basic programmatic information and project design parameters that we get from either the owner or the architect. Once a project has been approved and goes into the design phase, estimates are typically prepared at the schematic design, design development and construction documents phases. These design phase estimates are used to confirm that the project is on track within the approved project budget. These estimates are also useful in the value engineering process and to assist in the evaluation of design options to maximize the best design solutions for the budget available.
The final design phase estimate is an effective tool that can be used to confirm the completeness and reasonableness of a contractor’s bid proposal.
The final design phase estimate is a useful tool in assisting the Owner’s review of the contractor’s schedule of values and to confirm that it is reasonably balanced and not front-end loaded.
Unfortunately, change orders occur on most projects and detailed information provided in the final estimates can be extremely helpful in a thorough review of the contractor’s change order requests. This is particularly true on the more complex requests that can have both additional costs and credits due to the owner as well.
In summary, the following are just some of the benefits of engaging a qualified cost consultant to provide professional independent construction cost estimates:
- Establish a realistic conceptual project budget which can also be used as a tool to evaluate the construction budget prepared by a contractor or construction manager.
- Provide cost checks at critical design milestones to confirm that the design is progressing in line with the approved construction budget which can prevent unnecessary dollars being spent on redesign and avoid schedule delays during the design phase of the project.
- Provide the Owner with the tools necessary to properly evaluate bids and to agree on a properly balanced schedule of values which is used as the basis for interim monthly progress payments.
- Assists the Owner in reviewing and evaluating change orders and in preparing a project final accounting.