Estimating Processes and Systems An overview of how cost estimates are developed from concept to concrete including procedural requirements for updating cost estimates and preparing estimates in the LRE and DQE systems. Presented by: Cheri Sylvester Program Management Office July 21, 2015
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2 Preliminary Pre-Design & Design Prior to Bid Letting For funding allocation and bid comparison Final Construction Post Award For contractor.
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Estimating Processes and SystemsEstimating Processes and Systems
An overview of how cost estimates are developed from concept to concrete including
procedural requirements for updating cost estimates and preparing estimates in the LRE
LRE uses characteristics of typical section models, applied to a length of roadway, to generate anticipated pay items, quantities, and unit prices.
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The quality of anLRE estimate depends on a
well-defined Scope of Work and current/accurate unit prices.
Estimating Considerations
District Estimator determines unit prices based on: Pay Item Quantity Project Location Contract Duration Material Cost and availability Labor Cost Equipment Cost Contractor Competition
Recent bid prices on similar items arealso taken into consideration