Cost Estimating Services

GCE - Global Construction Estimating, Corp. > Our services > Cost Estimating Services
GCE

Our team members are experienced working with client partners and understand that the cost estimate is a multi-purpose tool for the client.

Preliminary design: The project scope has not been defined and the the estimate at this stage is used to help define scope and anticipate costs for the project, evaluate alternatives and secure budgetary funding.

Intermediate design: The project scope has been partially defined. The estimate is updated to reflect current scope and validate budget and funding assumptions made during the preliminary design phase. During this phase adjustments to the scope of work can be made to ensure project is within the allocated and planned budget.

Final design: At this stage, the project scope has been fully defined and ready procurement phase. The estimate is updated with fully detailed unit costs and  take-off and will validate that the project costs are within the the allocated budget.

Due to the dynamic purpose of the estimates, our approach and estimating strategies vary at different stages of development of the project. GCE offers cost estimating services at all stages of the project lifecycle.

Our Services

Guiding principles
AACE International

The Association for the Advancement of Cost Engineering (AACE) International has several guiding documents that the GCE team uses and follows in the standardization of our cost estimating processes. Some of these documents include the Total Cost Management framework, as well as Recommended Practices Numbers 46R-11, “Required Skills and Knowledge of Project Cost Estimating”, 60R-10, “Developing the Project Controls Plan”, 17R-97, “Cost Estimate Classification System”, 37R-06, “Schedule Levels of Detail”, 35R-06, “Development of Cost Estimate Plans”, and 44R-08, “Risk Analysis and Contingency Determination”.

Schematic / Conceptual Estimating
ROUGH ORDER OF MAGNITUDE

Initially, where the level of project definition is in its early stages, the approach of the Top-Down Cost Estimating methodology would be implemented. The Top-Down estimating methodology will be used for budget validation and evaluation of project alternatives. The Top-Down estimating method employs techniques for costing using parametric models and analogous cost form historical database and similar projects. These methods are used primarily for concept screening and determination feasibility if project or alternatives.

Detailed Estimating
OPINION OF PROBABLE CONSTRUCTION COSTS (OPCC)

Once project and alternatives are evaluated and selections are made, our estimating strategy will phase into a Bottoms-Up methodology. Using the Bottoms-Up method, our team will develop control estimate where the scope items are grouped into semi-detailed to fully detailed costing of line items by their corresponding units of measure.

Procurement Support
BID ANALYSIS AND CGMP REVIEWS

GCE team members are accustomed with organizing, reviewing, and reconciling estimates in an ‘open book’ approach and principles. Our process involves drilling down to the estimated labor rates and availability, material pricing and equipment usage and productivity. Any significant differences would be investigated and addressed. A further review and comparison of estimates in a line-item by line-item are conducted and evaluated for accuracy. Any estimating assumptions for materials and equipment will be considered. GCE has successfully performed this reconciliation method and estimate review  with contractors, designers and construction managers on Contract Guaranteed Maximum Prices (CGMP) and conventional (hard-bid) proposal negotiations.

Budget Validation Support
INDEPENDENT COST ESTIMATE (ICE)

Our team is experienced in several methodologies for estimating projects. Ultimately, the use of a specific approach will depend on how much information is available and where the project lies within the development and lifecycle. For this project, our team anticipates that initially, where the level of project definition is in its early stages, the approach of the Top-Down Cost Estimating methodology would be selected. The Top-Down estimating methodology will be used for budget validation and evaluation of project alternatives. The Top-Down estimating method employs techniques for costing using parametric models and analogous cost form historical database and similar projects. These methods are used primarily for concept screening and determination feasibility if project or alternatives. Once project and alternatives are evaluated and selections are made, our estimating strategy will phase into a Bottoms-Up methodology. Using the Bottoms-Up method, our team will develop control estimate where the scope items are grouped into semi-detailed to fully detailed costing of line items by their corresponding units of measure. Our team member are committed to active involvement during all stages of the project lifecycle.

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