FACTOR THAT RELATED TO THE ACCURACY AND COMPLETENESS OF EARLY ESTIMATES

Best Worst
DIVISION 1-WHO WAS INVOLVED IN PREPARING THE ESTIMATE 1 2 3 4 5
1.1 Owner’s experience level
1.2 Engineer/Designer experience level
1.3 Relevant experience of the estimating team
1.4 Level of involvement of the project manager
1.5 Involvement of other resources in preparing estimate
1.6 Review and acceptance of estimate by appropriate parties
1.7 Impact of team integration and alignment
1.8 Purpose and intended use of estimate
1.9 Attitude/culture toward changes
Best Worst
DIVISION 2 – HOW WAS THE ESTIMATE PREPARED 1 2 3 4 5
2.1 Completeness of cost information
2.2 Applicability of cost information
2.3 Accuracy and reliability of cost information
2.4 Standard procedure for update cost information
2.5 Time allowed for preparing the estimate
2.6 Alignment of estimate methodology with available project information
2.7 Is the estimating work process formally defined and followed?
2.8 Formal structure to categorize and prepare the cost estimate
2.9 Utilization of checklists to ensure completeness and technical basis
2.10 Documentation of information used in preparing the estimate
2.11 Method used to determine contingency

Best Worst
DIVISION 3 – WHAT WAS KNOWN ABOUT THE PROJECT 1 2 3 4 5
3.1 Capacity
3.2 Technology
3.3 Processes
3.4 Site location
3.5 Plot Plan
3.6 Utility sources and supply conditions
3.7 Environment assessment
3.8 Process flow sheets
3.9 Mechanical equipment lists
3.10 Heat and material balances
3.11 P&ID’s
3.12 Project strategy
3.13 Project design criteria
3.14 Project schedule

Best Worst

DIVISION 4: FACTORS CONSIDERED WHILE PREPARING THE ESTIMATE

4.1 Owner’s costs

4.2 Impact of Project Type

4.3 Impact of contract type

4.4 Impact of governmental requirement

4.5 Impact of project schedule

4.6 Work Force

4.7 Labor productivity

4.8 Bidding Climate

4.9 Taxes and insurance

4.10 Money factors

4.11 Logistics for engineering and construction

Best Worst

OTHERS

1. Type of construction

2. Building type

3. Project Type

4. Building geometry
5. Plan Shape

6. Planning Efficiency

7. Building Size

8. Total floor area

9. Usable Total Floor area

10. External Envelope area

11. Building Height

12. Storey Height

13. Number of Storey

14. Number of storey below ground

15. Parameter
16. No of Functional unit

17 No of people

18. Quality of interior construction

19. Material Quality

20. Location

21. Ground Condition

22. Site Requirements

23. Time and duration

24. Time allowed to preparing the estimate

25. Mechanical & Electrical Systems

26. Contract Requirements

27. Clear & Completed Document

28. Legal arrangements

29. Scope of works

30. Project team requirements

31. Team alignment

32. Team experience and cost information

33. Qualified Construction

34. Technology Construction

35. Custom or standard element

36. Extent of fitting

37. Standard of specification

38. External factors

39. Labor & material shortage

40. building ability

41. Formal estimating process

42. Basic process design

43. Money issues

44. Contingency and review

45. Owner’s costs

46. Number and type of facilties

FACTOR THAT RELATED TO THE ACCURACY AND COMPLETENESS OF EARLY ESTIMATES

Best Worst
SCOPE 1 2 3 4 5
1. Quantities
2. Definition
 3. Design Approach
4. State of design
5. Completeness
6. Detail
7. Information
8. Quality
9. Consistency
10. Continuity
11. Project Nature
12. Project
13 Technology

Best Worst
INFORMATION 1 2 3 4 5
1. Processing
2. Sought
3. Availability
4. Validity
5. Completeness
6. Relevance

Best Worst

UNCERTAINTY

1. Technology

2. Project
3. Environmental

4. Productivity

5. Market

6. Construction

7. Project nature
Best Worst

ESTIMATOR

1. Talent

2. Skills and Experience

3. Effort Applied

4. Expertise

5. Judgement
6. Knowledge

7. Common Sense

8. Team ability

Best Worst

PROCEDURE

1. Mistake
2. Time Available

3. Measurements

COST INFORMATION DATA

Contact Person: __________________________________

Company: __________________________________

Principle type of project:

Industrial Infrastructure Building

____Electrical ____Electrical Distribution ____Low rise office/house

____Oil Production ____Highway ____High rise Office/apartment
____Pulp and Paper ____Warehouse
____Rail
____Chemical Mgfr ____Hospital
____Airport
____Environmental ____School
____Textile ____Tunneling ____Prison
____Pharmaceuticals Mfgr ____Residential House
____Metal Processing
____Consumer Product Mfgr

Other (Please Describe): _____________________________________________________________

 Owner:____________________________________________________________________________
General Contractor:__________________________________________________________________
A/E Firm (s):_______________________________________________________________________

Capital cost Category Estimated Costs Actual Costs

Preliminaries ____________________ ________________
Construction Costs ____________________ ________________
Consultancy Fees ____________________ ________________
PC&Prvsional Sum ____________________ ________________
Contingency ____________________ ________________
Other’s (Describe) ____________________ ________________

At the time this estimated was prepared, provide the approximate % complete of the following

_____Business Unit Study ( %)

_____Preliminary engineering ( %)
_____Detailed Engineering ( %)
____Procurement ( %)
_____Construction ( %)

 What was the single biggest factor affecting the difference between the estimated and the actual costs
___________________________________________________________________________________

 Any remarks or comments: __________________________________________________________