Download or read book Lump Sum Estimating written by Brian Wasserman and published by . This book was released on 2012 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: The lump sum bidding process is designed to reduce cost overruns so as to minimize cost growth of projects and to share the risk of additional material quantities with contractors. This research used a test contractor to bid a unit priced contract as a lump sum contract. The contractor was engaged as a "lump sum test contractor" on SP5007-25. The test contractor submitted a lump sum bid prior to the actual bid letting deadline. For the lump sum bid, all quantities were verified, according to the plans. The results were compared to the unit priced bids that were submitted by contractors during the actual bid process. Phase two of this project was a time study of work categories performed by field inspectors and a time study of work categories performed by inspectors on the same jobs during the winter shutdown season. The time study was followed by a survey, which was sent to MnDOT inspectors and Project Engineers in an effort to discern attitudes toward the lump sum bidding process. Finally, feedback about the survey results was solicited from project engineers.

Download or read book Project Management for Construction written by Chris Hendrickson and published by Chris Hendrickson. This book was released on 1989 with total page 425 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Building Construction Estimating written by Stephen D. Schuette and published by McGraw-Hill Companies. This book was released on 1994 with total page 378 pages. Available in PDF, EPUB and Kindle. Book excerpt: Building Construction Estimating furnishes readers with specific details on how a general building contractor derives the cost of a project before it begins, and how the estimate fits into the total construction process. The book provides coverage of such areas as determining labor productivity and wages, selecting equipment and assigning productivity rates and costs, acquiring specialty contractor prices, and assigning overhead costs and profit. The material is presented from the point of view of a general contractor working on a competitively bid stipulated-sum (lump-sum) contract. However, other contract methods and the effects they have on the estimating process are also discussed. Furthermore, the principles of estimating for the specialty trades are discussed from the reference of a general building contractor, and how the subcontractor's bid will affect the total project cost is presented. Of special note is the book's introduction and utilization of computers in the estimating process - enabling readers to utilize new technology in an effective and efficient manner. The book is organized in a way that first teaches the reader to perform many of the estimating activities manually, then guides them in developing a computer spreadsheet. The use of spreadsheets empowers the reader to go beyond the manual calculations and develop new and more proficient solutions to estimating problems.

Download or read book Profit First for Contractors written by Shawn Van Dyke and published by . This book was released on 2018-12-03 with total page 218 pages. Available in PDF, EPUB and Kindle. Book excerpt: Construction industry business coach, speaker, and author, Shawn Van Dyke, has taken the core concepts of Mike Michalowicz's Profit First and customized them to address the specific needs of the construction industry. Profit First for Contractors addresses the major struggles contractors face and provides clear and actionable guidance on how to overcome them. Shawn shows contractors how to go from simply getting by to becoming permanently profitable. This book is for every construction business owner who dreams of prosperity. Using Van Dyke's Profit First for Contractors system, readers will learn how to break out of the "craftsman cycle" - the seemingly never-ending loop of urgent tasks and responsibilities that keep contractors from gaining traction toward their important goals. He guides construction business owners how to understand their financial statements and how to use them to determine the markup and margin that lead to profits. You will also learn hot to develop solid rules of thumb for the operation of your construction businesses, and how to implement an effective cash management plan that simplifies accounting and leverages normal human behavior. Using real-life stories from actual construction business owners, step-by-step advice, and his conversational twang, Van Dyke puts permanent profitability within reach of every construction business owner.

Download or read book Enhancing the Accuracy of Construction Cost Estimates for Major Lump Sum LS Pay Items and Generating a More accurate List of Pay Items Throughout the Design Development Process written by Baabak Ashuri and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Golden Albatross How To Determine If Your Pension Is Worth It written by Grumpus Maximus and published by . This book was released on 2020-06-06 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: "I don't love this job anymore, but should I stay for the pension?" This gut-wrenching question is common for many people working in pensionable careers. But how much is your pension worth? And, is staying worth it? Since 2017, Grumpus Maximus has researched and written about this critical decision point, which he calls The Golden Albatross. Having served 20 years in the U.S. Military, he too struggled with the same questions, and now he helps others learn from his mistakes. If your job offers a pension, then this book is a must-read. Easily learn how to calculate your pension's objective value and weigh it against the subjective benefits of leaving for more fulfilling work. When done, you will agree, it was worth it.

Download or read book Illinois Construction Law written by Daniel Meyer and published by Wolters Kluwer. This book was released on 2003-01-30 with total page 544 pages. Available in PDF, EPUB and Kindle. Book excerpt: Illinois Construction Law is the only resource that covers Illinois construction projects chronologically and completely, from beginning to end. This guide is packed with valuable insights for lawyers and laypersons alike on the widest variety of topics, including: Public and Private Bidding Project Delivery and Key Contract Terms No-Damage -for-Delay Clauses Pay-When-Paid Clauses Indemnity Clauses And The Anti-Indemnity Act Kotecki And The Waiver of Workersiquest; Compensation Protection Licensing of Design Professionals Bonding Requirements and Surety Claims Arising out of the Project, including Delay Claims the Still-emerging Economic Loss Doctrine Claims Analysis from a Practical Perspective Alternative Dispute Resolution Techniques and much more. Illinois Construction Law cuts To The core of the issues that confront this industry every day, allowing you to identify opportunities and avoid pitfalls. With citations to key cases, analyses of the factual circumstances underlying numerous decisions, and syntheses of multiple rulings, this singular resource strives For The clearest statement of the law wherever possible. Whether you are a project manager or a construction litigator, Illinois Construction Law will save you time and money by guiding you to reliable answers iquest; quickly!

Download or read book Cost Estimator s Reference Manual written by Rodney D. Stewart and published by John Wiley & Sons. This book was released on 1995-04-03 with total page 744 pages. Available in PDF, EPUB and Kindle. Book excerpt: In today's hypercompetitive global marketplace, accurate costestimating is crucial to bottom-line results. Nowhere is this moreevident than in the design and development of new products andservices. Among managing engineers responsible for developingrealistic cost estimates for new product designs, the number-onesource of information and guidance has been the Cost Estimator'sReference Manual. Comprehensive, authoritative, and practical, the Manual instructsreaders in the full range of cost estimating techniques andprocedures currently used in the fields of development, testing,manufacturing, production, construction, software, generalservices, government contracting, engineering services, scientificprojects, and proposal preparation. The authors clearly explain howto go about gathering the data essential to preparing a realisticestimate of costs and guide the reader step by step through eachprocedure. This new Second Edition incorporates a decade of progress in themethods, procedures, and strategies of cost estimating. All thematerial has been updated and five new chapters have been added toreflect the most recent information on such increasingly importanttopics as activity-based costing, software estimating,design-to-cost techniques, and cost implications of new concurrentengineering and systems engineering approaches to projects. Indispensable to virtually anyone whose work requires accurate costestimates, the Cost Estimator's Reference Manual will be especiallyvaluable to engineers, estimators, accountants, and contractors ofproducts, projects, processes, and services to both government andindustry. The essential ready-reference for the techniques, methods, andprocedures of cost estimating COST ESTIMATOR'S REFERENCE MANUAL Second Edition Indispensable for anyone who depends on accurate cost estimates forengineering projects, the Cost Estimator's Reference Manual guidesthe user through both the basic and more sophisticated aspects ofthe estimating process. Authoritative and comprehensive, the Manualseamlessly integrates the many functions--accounting, financial,statistical, and management--of modern cost estimating practice.Its broad coverage includes estimating procedures applied to suchareas as: * Production * Software * Development * General services * Testing * Government contracting * Manufacturing * Engineering * Proposal preparation * Scientific projects * Construction This updated and expanded Second Edition incorporates all the mostimportant recent developments in cost estimating, such asactivity-based costing, software estimating, design-to-costtechniques, computer-aided estimating tools, concurrentengineering, and life cycle costing. For engineers, estimators, accountants, planners, and others whoare involved in the cost aspects of projects, the Cost Estimator'sReference Manual is an invaluable information source that will payfor itself many times over.

Download or read book Estimating Excavation written by Deryl Burch and published by Craftsman Book Company. This book was released on 1997 with total page 458 pages. Available in PDF, EPUB and Kindle. Book excerpt: This manual shows you, in simple, easy -to-understand language, how to calculate the amount of dirt you'll have to move, the cost of owning and operating the machines you'll do it with, and finally, how to assign bid prices to each part of the job. Using clear, detailed illustrations and examples, the author makes it easy to follow and duplicate his system. The book ends with a complete sample estimate, from the take-off to completing the bid sheet.Included in this book: -- How to set up & use an organized & logical estimating system -- How to read plans & specs -- Why a site visit is mandatory -- How to assess accessibility & job difficulty -- How soil haracteristics can affect your estimate -- The best ways to evaluate subsurface conditions -- Figuring your overhead -- How to get the information you need from contour maps -- When you have to undercut -- Dealing with irregular regions and odd areas -- Factors for estimating swell and shrinkage -- Balancing the job: spoil & borrow -- Calculating machine owning & operating costs -- The two common methods of estimating earthwork quantities

Download or read book Construction Cost Estimating written by Len Holm and published by Prentice Hall. This book was released on 2005 with total page 378 pages. Available in PDF, EPUB and Kindle. Book excerpt: The most comprehensive book on the market that covers the fundamental cost estimating principles and processes used in commercial construction today. Using a single case study, the book shows readers how to prepare their estimates and to develop the necessary skills needed to be successful in the construction industry. It covers theory, types of estimates, estimating procedures and contractual aspects as well as providing practical tips on how to estimate. Specifically details the process for developing three separate types of estimates: a budget estimate during design development, a guaranteed-maximum-price estimate for a cost-plus contract, and a bid for a lump-sum contract. The book also discusses analysis of subcontractor quotations as well as estimating job site general conditions and company overhead costs; it even includes discussion of negotiated contracts. A comprehensive reference for construction professionals such as cost estimators and project managers.

Download or read book New Code of Estimating Practice written by The Chartered Institute of Building and published by John Wiley & Sons. This book was released on 2018-05-29 with total page 293 pages. Available in PDF, EPUB and Kindle. Book excerpt: The essential, authoritative guide to providing accurate, systematic, and reliable estimating for construction projects—newly revised Pricing and bidding for construction work is at the heart of every construction business, and in the minds of construction consultants’ poor bids lead to poor performance and nobody wins. New Code of Estimating Practice examines the processes of estimating and pricing, providing best practice guidelines for those involved in procuring and pricing construction works, both in the public and private sectors. It embodies principles that are applicable to any project regardless of size or complexity. This authoritative guide has been completely rewritten to include much more contextual and educational material as well as the code of practice. It covers changes in estimating practice; the bidding process; the fundamentals in formulating a bid; the pre-qualification process; procurement options; contractual arrangements and legal issues; preliminaries; temporary works; cost estimating techniques; risk management; logistics; resource and production planning; computer-aided estimating; information and time planning; resource planning and pricing; preparation of an estimator’s report; bid assembly and adjudication; pre-production planning and processes; and site production. Established standard for the construction industry, providing the only code of practice on construction estimating Prepared under the auspices of the Chartered Institute of Building and endorsed by a range of other professional bodies Completely rewritten since the 7th edition, to include much more contextual and educational material, as well as the core code of practice New Code of Estimating Practice is an important book for construction contractors, specialist contractors, quantity surveyors/cost consultants, and for students of construction and quantity surveying.

Download or read book Markup Profit written by Michael Stone and published by Craftsman Book Co. This book was released on 1999-01-01 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: In order to succeed in a construction business you have to be able to mark up the price of your jobs to cover overhead expenses and make a decent profit. The problem is how much to mark it up. You don't want to lose jobs because you charge too much, and you don't want to work for free because you've charged too little. If you know how much to mark up you can apply it to your job costs and arrive at the right sales price for your work. This book gives you the background and the calculations necessary to easily figure the markup that is right for your business. Includes a CD-ROM with forms and checklists for your use.

Download or read book Conceptual Cost Estimating Manual written by John S. Page and published by Gulf Professional Publishing. This book was released on 1996-06-14 with total page 348 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Estimating and Tendering for Building Work written by Ronald Carl Smith and published by Routledge. This book was released on 2013-12-19 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt: "...my message to lecturers in building/quantity surveying is to 'put it on your course list for essential reading' and to students and practitioners 'buy it' " Building Technology & Management Provides a practical introduction to understanding the costs encountered on a building project together with an appreciation of the many factors influencing them.

Download or read book The Effect of Lump Sum Contracts on Bidding Behavior and Procurement Costs in Public Highway Construction written by and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: I study the effect of lump sum contracts on bidding behavior and procurement costs in highway construction. For highway construction projects we usually observe ex-post changes in design due to unforeseen site condition. The Florida Department of Transportation (FDOT) offers two different contract types regarding compensations for ex-post quantity changes of work item. Under the standard contract, the department provides a list of work items and their quantities. If there is a quantity change, the contractor's unit price bid on that work item is used to make pay adjustment. On the other hand, under the lump sum contract, bidders are allowed to design the project themselves and no pay adjustments are made for ex-post quantity changes. In Chapter 1, I propose a theoretical model to describe bidding behavior under the lump sum. They are willing to inflate bids to self-insure against ex-post changes, while they should make a cost-efficient design to win the contract. Compared to the standard, lump sum contracts may increase or decrease bids, but they reduce the expected payments in many cases. In Chapter 2, I estimate the effect of lump sum contracts on (winning) bids and procurement costs. I assume that the outcome variables are independent of the assignment conditional on observables. And I use regressions and propensity score methods to estimate the effects. Specifically, I use a trimmed sample for regressions in which some seemingly extreme observations are dropped based on the propensity scores. With miscellaneous projects, lump sum does not increase the outcome variables. And I allow the assignment decision to be endogenous and use the treatment effect model to quantify the impact. In particular, I use district and task dummies as instrumental variables. It turns out that the outcome variables do not increase under the lump sum. And I test for unobserved project heterogeneity conditional on all the covariates by exploiting multiple bids within an auction. Using the FDOT data, the correlation coefficient for the trimmed sample is close to zero, which implies no serious unobserved project heterogeneity. Thus, the regression results with the trimmed sample are supported.

Download or read book The American Institute of Architects Official Guide to the 2007 AIA Contract Documents written by American Institute of Architects and published by John Wiley & Sons. This book was released on 2009-03-23 with total page 496 pages. Available in PDF, EPUB and Kindle. Book excerpt: No other contracts are more widely used in the construction industry than the American Institute of Architects’ standard forms. The American Institute of Architects Official Guide to the 2007 AIA Contract Documents offers unparalleled insight into the AIA’s extensive portfolio of contract documents, helping the reader understand the forms and how to implement them. This guide is divided into two parts:Part One, The AIA Standard Documents, examines the role of AIA Contract Documents, their history, and how the documents are written and updated. It also reviews the educational and supporting resources that are part of the AIA's contract documents program; Part Two, The AIA Documents Companion, describes agreements in detail, including the purpose and rationale for provisions. Separate chapters cover the owner-contractor, contractor-subcontractor, owner-architect, and architect-consultant agreements. The guide concludes with a chapter describing pivotal legal cases that have helped shape and interpret AIA contracts. Samples of the most commonly used contracts are in print in the appendix, and an accompanying CD-ROM has samples of all AIA Contract Documents (in PDF format for Mac and PC computers) that released in 2007, as well as the Integrated Project Delivery Family of documents that released in 2008. This book is invaluable for construction project owners, attorneys, contractors, subcontractors, design professionals, and others involved in the procurement, management, and delivery of building projects. It is also recommended for students and young professionals seeking a degree, certification, or licensure.

Download or read book Introduction to Estimating for Construction written by Brian Greenhalgh and published by Routledge. This book was released on 2013 with total page 207 pages. Available in PDF, EPUB and Kindle. Book excerpt: Students and professionals encountering estimating for the first time need an approachable introduction to its principles and techniques, which is up to date with current practice. This title explains both the traditional techniques, and best practice in early contractor involvement situations, within the framework of modern construction procurement.