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Chapter 5 Cost Estimating and Bidding

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Chapter 5 Cost Estimating and Bidding

BCN 4708 Fall 2008

- Estimating process
- Determine labor, material and equipment needs
- How much subcontracting?
- Assign prices to quantities
- Add in: indirect costs, overhead and profit

- ASPE
- AACE

- Lump-sum Estimates
- Unit-price Estimates
- Approximate Estimates p.79
- Cost-per Function
- Area Cost Estimate
- Volumetric Cost Estimate
- Modular Takeoff Estimate
- Partial Takeoff Estimate
- Panel Unit Cost Estimate
- Parameter Cost Estimate

- Bidding Procedures
- Private
- Public

- Advertisement for Bids
- Private
- Public
- Reporting services

- Decision to Bid
- Set-Asides
- Qualification
- Deposits
- Availability of Plans and Specs
- Bidding Period
- Instruction to Bidders
- Preliminary conditions
- Jobsite Visit
- Bid invitations

- Quantity Surveys / Takeoffs
- Architect / engineer
- Contractor

- Professional Quantity Surveyors
- Cost Summaries fig 5.4 / 5.5
- Material costs
- Direct labor cost
- Indirect labor costs

- Equipment Costs
- Equipment Expense
- Equipment Rates
- Ownership and Operating Costs
- A = C(n+1) + S(n-1) / 2n

- Equipment production rates

- Subcontractor bids
- Bid Depositories
- Allowances
- Overhead
- General Overhead

- Project Time Schedule
- Markup 5 – 20

- Lump-sum Recap Sheet
- Bid Changes
- Change sheet

- Unit price recap sheet
- Factor

- Contract Bond
- Surety
- Performance or payment bond

- Addenda

- Scope Bidding
- Computer-Based Estimating
- Range estimating