As we approach 2020, it’s a good time to look back at 2019, to consider the past before we step into the future. Over the last year, we produced and published resources to help architects, engineers, contractors and project owners/managers use accurate construction cost data to overcome preconstruction challenges. We tackled old problems like estimating accurately for future builds. We addressed modern problems like integrating data across systems. We even put your questions to a CEP with more than 40 years of experience.
In case you missed anything, or if want to get a jump on 2020 budgets, estimates or designs, here are a few resources to help you.
Planning for the Future with Construction Cost Data
It’s one of the oldest, most vexing problems in the construction industry: Today’s construction costs are used to budget and estimate tomorrow’s projects. Years pass between budgeting and breaking ground, and in that time material, labor and equipment costs change. To combat volatility, it helps to understand construction cost trends. Better yet, use predictive cost data so you can accurately budget for and estimate work completed up to three years in the future.
Improving Construction Estimates and Budgets
One of the most important skills for project owners and their reps is creating budget estimates. And budgeting accurately means developing Scopes of Work that are comprehensive and precise. The need for accuracy doesn’t stop with budgets; owners must also take great care when costing construction estimates, including understanding and organizing their costs. But project owners aren’t the only people interested in estimating better.
Estimators must understand the outside factors that affect construction costs if their estimates are going to accurately reflect the market. Understanding the external circumstances that impact construction costs is important for learning the science of estimating; mastering the art requires building good habits and developing skills.
No matter your role or your years of experience in the construction industry, it helps to have the help of an expert estimator to answer your burning questions and a checklist to make sure you don’t miss a thing.
Applying Data to Construction Design
Reliable construction costs are used for more than budgeting and estimating. Architects and other design professionals use cost data to maximize available budget. But that’s not all. Designers need trustworthy costs to make value engineering suggestions before construction work even begins.
As the calendar flips to a new decade with new technologies, new opportunities and new challenges, one thing will remain the same: We’ll be helping you do what you need to do faster with accurate construction costs. Here’s to an exciting and successful 2020.
