Cost Estimating

Forecasts of expenses for building or remodeling work are achieved through quantity takeoffs to determine direct costs, as well as the application of historical data and knowledge of current market conditions to determine labor, supervision/general conditions, and other capital requirements. From early-stage Order of Magnitude estimates to determine a project’s feasibility, to updates prepared during Schematic Design, Design Development, and the Construction Document phases, predicting and tracking costs validates accurate bids and allows for greater budget control throughout the project life cycle. Early conceptual estimates give design teams opportunities to implement better, more creative value engineering solutions during early phases, rather than having to architecturally redesign completed plans or reduce project scope later. Accurate estimates also mitigate risk, ensuring that performance bonds and contingency funds adequately yet efficiently protect all parties and that sufficient funds are secured for month-to-month cash flow, from groundbreaking to grand opening.