COST Flashcards
Construction cost definition
Total cost of the work to the client:
-result of coordination by architect,
-construction management fees
-all other fees for procurement + coordination of services
-all applicable taxes (except value added taxes)
*construction cost excludes the fee of architect, consultants, land cost, land dev charges, other professional fees
Direct costs to construction:
-Materials
-labor
-equipment
-contingencies
Indirect costs;
-general conditions
-administration + profit of contractor
Professional costs;
-studies
-professional services
Divers costs:
-taxes
-inflation
-other contingencies
-construction contingencies
General fees are determined by?
00-procurement and contracting requirements
01-general conditions
3 categories of general conditions
- Costs related to construction cost
-insurance
-permits
-fines
-Financing costs - Length of the projects
-superintendent
-PM
-winter conditions
-security
-fence
-crane
-heating
-cleaning + garbage - Punctual costs
-professional fees
-protection of existing buildings
-permits + fines
-signs
-inspections
4 types of estimation
-elemental : uniformat 2 : most popular
-progressive
-parametric
-volume
-unitary
-surface
Progressive estimation; advantages + inconveniences
Adavantages;
-reliable when done well
Inconveniences:
-Lots of time
-requires high degree of specialization
Elemental cost
Advantages ;
Most popular
Divides building in large elements
-easy to change elements ; value engineering
-used old + new buildings
disadvantages;
-doesn’t use same divisions as trades
-very oversimplified
Surface
-used in real estate
-arch’s have lots of data
-a good very general view;
-doesn’t account for unique aspects of a project
-oversimplified
Units
-very general
-very fast
-must be adapted
