Exemplary Steps . A general reference for estimating with Oman BidTabs Professional. Division of Project Management Indiana Department of Transportation. The estimate example project is a new bridge on SR 25 in Cass County (IR30845). The project was let in August 2011.
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A general reference for estimating with Oman BidTabs Professional
Division of Project Management
Indiana Department of Transportation
The estimate example project is a new
bridge on SR 25 in Cass County (IR30845).
The project was let in August 2011.
Two Guiding Principles
One effective way to verify estimates and refine running sequence is to verify the estimate against actual let price.
Only through data verification, an estimate can establish it true meaning in real world.
In general, for this example we use the following practice to maintain data relevancy.
We start with narrower, more project specific and more stringent criteria.
For example, we start our price search in LaPorte District, the lowest three bidders, 12-month window. Define project type with project prefix.
Then we broaden the search criteria for any items which we can’t find valid data in previous steps.
For example, we expand our search from LaPorte district to statewide in step 2, and expand time window from 12-month in step 1 and 2 to 36-month in step 3. Also, we bring in bid data from all bidders instead of the lowest 3 bidder.
Estimate Compilation from Comparisons:
Step 4b (another option)
Other capabilities of Oman software
Web link to INDOT Cost Estimating and Cost Management Program web site:
More information will be updated as
the cost estimating program grows.