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Cost Estimating Project Phases

1m 23s

Learn specifics on Project Management with Matt Dumich of Adrian Smith + Gordon Gill. He’ll walk you through how they handle team communication, cost estimates, and budget. Be taken inside how the firm tracks projects and keeps projects on schedule.

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But then as you move on into design development, you can start to look at more systems, what systems cost maybe, as the design has more detail, the cost estimator can really drill into some harder bid numbers, and often times, a cost estimator will actually have major trades, like the structure and the mechanical systems actually bid out, or advised by a subcontractor. And then by the time you get into CD's and you're checking those prices, they're really much more reliable information, because all of the detail is in your documents. So you kind of build up as you go, and so when doing that, you want a little bit of a cost contingency, so maybe you'd have 10% contingency early on, that might go to 5%, just to cover you if you missed anything.

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Duration: 33m