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2016 - Civil Design Studio 2 > Cost Estimation > Flashcards

Cost Estimation Flashcards

1
Q

What is the purpose of cost estimation?

A
  • Project viability
  • Option comparison
  • Funding approvals
  • Cost control
  • Programming/cashflow
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2
Q

What is the accuracy of concept stage?

A

50% +-

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3
Q

What is the accuracy of detailed design?

A

15% +-

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4
Q

What is the trend as detail becomes more accurate?

A

Cost estimation becomes more accurate.

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5
Q

What is CAPEX?

A

Capital expenditure (capital cost estimate)

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6
Q

What is CAPEX defined as?

A

Land, concepts, resources, investigation, design, fees, construction, supervision, financing, overhead etc.

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7
Q

What are the stages of design?

A
  • Concept
  • Pre-feasibility
  • Feasibility
  • Preliminary
  • Detailed design
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8
Q

How much do the design phases cost?

A

Generally 5-10% of Capital Costs, this is subject to variation.

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9
Q

What are some examples of preliminary design studies?

A

Hydrology, seismic harzards, geotechnical investigations etc.

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10
Q

What are some examples of detailed design?

A

Detailed hydraulic analysis, earthworks, structural design, building consent application etc.

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11
Q

What are examples of field investigations?

A

Geotechnical investigations, geological, topo survey, contamination, water quality, hydrology.

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12
Q

What are general items in the bill of quantities?

A
  • P&G
  • Mobilisation
  • Management plans and submittals
  • Misc
    Demobilisation.
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13
Q

What are volumes based on?

A

Geometric models.

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14
Q

What is OPEX?

A

Operating cost estimate

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15
Q

What do OPEX include?

A

Operator fees, power supply, admin, monitoring etc.

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16
Q

What is the NPV?

A

Net present value of project based on projected future cash inflows.

17
Q

What is the engineers estimate?

A

Estimate based of bill of quantities. +- 20% accurate.

18
Q

Whats the difference between construction cost estimates vs tender price?

A

Contractors margin
Risk assessment
Hunger for job
Supplier relationship

19
Q

How a tender will be evaluated?

A 
Track record
Experience 
Resources 
Programme
Price

2016 - Civil Design Studio 2 (21 decks)

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