The key to successful estimating is simple: realistic pricing objectively applied to comprehensive and accurate quantities. No rationalization, no self-negotiation. An honest evaluation of scope and cost. This is true for both Project and Construction costs and it is true at any point in the planning, development and construction of a project.
The challenge of preparing in-house budgets and estimates is balancing the needs, wants and wishes of the Client and Design Team with the realities of a specific Construction Market. Our goal is to understand the Client’s priorities relative to value, program, design or schedule and respond with educated recommendations or decisions that achieve the desired goals.
Our process allows us to make informed decisions and respond to potential problems early in the design process; minimizing or alleviating expensive redesign or negotiation in the later phases of design implementation or construction.
Lord, Aeck & Sargent maintains close contact with the construction market, retaining up-to-date price information that allows us to develop designs within the budget. We use the following resources to help ensure compatibility with the budget.
Lord, Aeck & Sargent utilizes UniFormat and MasterFormat templates to develop a comprehensive accounting of project and construction scope at the various phases of design. In addition, we maintain contact with the various construction markets in which we operate, retaining up-to-date price information that allows us to develop designs within the budget. We employ the following resources to help ensure compatibility with the budget.
- In-house cost estimating professional
- On-Screen Takeoff software
- REVIT / Timberline interface
- Timberline estimating software
- RS MEANS Building Construction Cost Data
- In-house historical project and unit cost databases
- Solicitation of manufacturer, vendor and contractor pricing
- Design team estimates, checks and input based on context
- Specific, real project costs and knowledge
- Professional cost consultants ( MEP)
To establish a realistic estimate of project costs, we use a comprehensive total project budget process, incorporating all construction costs, services, equipment and furnishings necessary to put the building to full use.
Costs are evaluated and categorized as:
- Construction costs – Material, Labor & Equipment required for construction plus General Requirements, Bidding & Contract Requirements, Contractor’s Fees, Escalation and Design or Estimating Contingencies
- Project costs – Owner furnished Equipment, Furnishings, Communications, Design & Testing fees, Development costs and other Owner & Facility costs.
Cobb Quarles is the in-house Cost Manager at Lord, Aeck & Sargent. With over 25 years of experience in the commercial construction industry, he is immediately available to provide construction and cost expertise to all Lord, Aeck & Sargent project teams. His responsibilities include the development and management of our delivery & procurement strategies, contractor solicitation, cost databases, estimating processes & systems, quantity surveys, pricing and reconciliation of both competitively bid and negotiated projects. Cobb assists our project teams with the development of conceptual budgets in the earliest phases of design through to the preparation and presentation of detailed estimates of contract documents.
