#project cost estimation

[asestimationsconsultants]

How a Cost Estimating Service Prevents Budget Overruns in Government Projects

Government projects, from infrastructure development to public sector building projects, are often large in scale, highly complex, and come with strict budgetary constraints. In such projects, ensuring that financial resources are properly allocated and spent is critical. One of the most effective tools in preventing budget overruns in these projects is a cost estimating service.

A cost estimating service helps government agencies and contractors accurately predict the financial needs of a project, helping to prevent overspending, misallocation of resources, and financial surprises that can derail projects. In this article, we will explore how a cost estimating service plays a crucial role in preventing budget overruns in government projects.

The Importance of Accurate Cost Estimation

In government projects, budgets are often fixed, and any deviation from the allocated funds can cause significant delays, loss of public trust, or, in some cases, legal consequences. This makes accurate cost estimation a key element in project planning and execution. Poorly estimated budgets are one of the leading causes of budget overruns. A cost estimating service provides the necessary expertise to predict costs accurately and manage risks effectively throughout the project.

How Cost Estimating Services Help Prevent Budget Overruns

Accurate Initial Cost Forecasting

One of the primary roles of a cost estimating service is to create a detailed, accurate initial cost forecast. This involves gathering data from multiple sources, including historical project costs, labor rates, material prices, and other essential elements that contribute to the total project cost. The cost estimator uses this data to generate a comprehensive budget for the project that reflects both direct and indirect costs.

By developing a clear and detailed initial cost estimate, a cost estimating service helps government agencies understand the financial scope of the project and ensures that they allocate resources appropriately. Without this accurate forecasting, the project could face unexpected financial challenges down the line, leading to costly overruns.

Identifying Potential Risks Early

A key benefit of using a cost estimating service is the ability to identify potential risks and financial challenges early in the project. Estimators are trained to consider various scenarios that may lead to budget issues, such as increases in material costs, supply chain disruptions, and delays caused by weather or regulatory issues.

By identifying these risks early, cost estimators can factor them into the project budget and propose contingency plans. For example, if the cost of a key material is projected to rise, the estimator can adjust the budget to accommodate this increase. This proactive approach helps to prevent surprises that could lead to cost overruns during the project's execution.

Real-Time Budget Monitoring and Adjustments

Once the project is underway, the cost estimating service continues to play a key role in monitoring the budget in real-time. By tracking actual expenditures and comparing them to the original estimates, cost estimators can identify discrepancies and take corrective actions quickly.

If costs are higher than anticipated, the estimator can work with the project manager to adjust the budget, reallocate resources, or find cost-saving opportunities to keep the project within financial constraints. Real-time monitoring allows for adjustments to be made in a timely manner, preventing small issues from snowballing into major budget overruns.

Detailed Breakdown of Costs

A cost estimating service provides a detailed breakdown of costs, which is especially important for government projects that require transparency. Each aspect of the project—whether it’s materials, labor, equipment, or overhead—can be tracked and monitored separately.

This level of detail allows stakeholders to see exactly where money is being spent and identify areas where costs might be higher than expected. For example, if labor costs are consistently exceeding estimates, the project manager can investigate the cause and implement measures to reduce these expenses.

By breaking down costs into clear categories, a cost estimating service helps ensure that resources are used efficiently and that there are no hidden or unnecessary expenses. This transparency helps prevent budget overruns and ensures that the project remains on track financially.

Integration with Project Management Tools

Many modern cost estimating services integrate with project management software to provide seamless tracking of both costs and progress. These tools allow real-time updates and visibility across different project phases, ensuring that all stakeholders, including government officials, contractors, and project managers, have access to the latest financial information.

This integration allows the project team to monitor expenditures against the budget as the project progresses. It also facilitates communication between different teams, which helps in addressing financial issues as soon as they arise. By using integrated tools, government projects can stay on track and within budget.

Providing Accurate Change Orders

Changes in scope are common in large government projects, whether due to regulatory adjustments, design revisions, or unforeseen issues. Each change can have a significant impact on the project budget. A cost estimating service helps manage these changes by providing accurate cost estimates for change orders.

When a change is requested, the estimating service can quickly assess how it will affect the overall project budget. This allows stakeholders to make informed decisions about whether the change is feasible within the existing budget or if adjustments need to be made. By evaluating the financial impact of changes before they are implemented, the cost estimating service helps prevent the project from exceeding its budget due to uncontrolled changes.

Ensuring Compliance with Regulations and Guidelines

Government projects often have strict regulations and guidelines regarding budget management and expenditure. A cost estimating service ensures that the project remains in compliance with these rules by adhering to established budgeting standards and reporting requirements. This is crucial for preventing budget overruns that may arise from non-compliance or mismanagement of funds.

By ensuring that all estimates are accurate and that costs are tracked according to regulatory standards, the estimating service helps government projects avoid penalties or delays caused by budget mismanagement.

Creating Contingency Budgets

One of the most important tools in preventing budget overruns is the use of contingency budgets. A cost estimating service helps create a realistic contingency budget that accounts for unforeseen costs or changes that might arise during the project.

Contingency budgets act as a financial cushion, providing the project with the flexibility to handle unexpected costs without exceeding the overall budget. By allocating a percentage of the total budget for contingencies, a cost estimating service ensures that the project is prepared for any surprises that may occur during construction or development.

Conclusion

Budget overruns are a significant challenge in government projects, where financial resources are often limited and must be used efficiently. A cost estimating service helps prevent these overruns by providing accurate cost forecasts, identifying potential risks, and offering detailed breakdowns of expenses. With real-time monitoring, accurate change order assessments, and the creation of contingency budgets, a cost estimating service ensures that government projects remain financially on track from start to finish. By using a professional cost estimating service, government agencies can reduce the risk of budget overruns and ensure that taxpayer funds are used effectively to complete projects on time and within budget.

[signalhill-if]

saw that you were working on turning the game into a full scale video game- if you ever need an illustrator I adore the project and would love to contribute. my portfolio is at https://orzaika.art/ and my bsky is @orzaika if you need examples :) but also congrats!!!! that's incredible news and I'm looking forward to more of signal hill

Omfg thank you! While I'm nowhere near being able to do any of this, my hope is get a game design document and a bunch of pre-production done on my own dime in order to put together a reasonable pitch for fundraising so I can actually pay folks to help me with the massive amount of work it'd be, so while I do need to do some more planning before I commit to anything I will absolutely keep you in mind when it gets to the proper pre-production stage because I actually do definitely need an illustrator :D Appreciate you!

(And if anybody's looking for commissions... 👀)

[practically-an-x-man]

the best thing for an artist who works mainly in local theatre to hear

'I'm in a position to pay you what your labor is worth'

[redshiftsinger]

"I'm here to brag about how much money I spent just to be able to run a game that wouldn't need remotely that much power if it wasn't full of useless bullshit. I'm mad at people who think bloatware is bad instead of the guys who scammed me out of several grand by deliberately making games use more power than they need to".

My solution for bloatware is this: by law you should hire in every programming team someone who is Like, A Guy who has a crappy laptop with 4GB and an integrated graphics card, no scratch that, 2 GB of RAM, and a rural internet connection. And every time someone in your team proposes to add shit like NPCs with visible pores or ray tracing or all the bloatware that Windows, Adobe, etc. are doing now, they have to come back and try your project in the Guy's laptop and answer to him. He is allowed to insult you and humilliate you if it doesn't work in his laptop, and you should by law apologize and optimize it for him. If you try to put any kind of DRM or permanent internet connection, he is legally allowed to shoot you.

With about 5 or 10 years of that, we will fix the world.

[dreamer-technoland]

Top Project Cost Estimation Software for Construction Projects

Construction Estimating Software in a Nutshell

Project estimation software is a digital tool that helps contractors and managers accurately forecast total construction costs by calculating expenses like labor, materials, equipment, and risks. Unlike generic tools, construction estimating software is often tailored to suit specific workflows and business models. Its strength lies in adapting to diverse construction needs, from small-scale renovations to large commercial buildings. Real-time data and configurable features enable teams to create reliable quotes, improve bidding accuracy, and maintain tighter control over budgets, helping them stay competitive and efficient throughout every phase of the project lifecycle.

Features of Construction Cost Estimator

Smart features in construction cost estimator streamline planning, enhance collaboration, and deliver real-time accuracy for better decision-making.

Centralized dashboards organize all project details, rates, and categories clearly to simplify the estimation process and avoid confusion.

Real-time pricing updates help reflect material or labor changes instantly, keeping estimates accurate and up to date.

Pre-built templates allow for fast project setup, eliminating the need to start estimates from scratch every time.

Integration with accounting tools ensures departments stay aligned and financial data remains consistent across the project.

Cloud access supports team collaboration, instant updates, and seamless adjustments from any location or device.

Benefits of Project Cost Estimation Software

Digital cost estimation empowers construction firms with accuracy, speed, transparency, and efficiency throughout the planning and bidding process.

Faster estimation speeds up bidding, allowing companies to respond quickly to project opportunities and increase their chances of winning contracts.

Reusable templates enable teams to duplicate and adapt past estimates, significantly reducing the time needed to start from scratch.

Detailed documentation provides full transparency, making it easier to justify costs and strengthen trust during negotiations and contract reviews.

Real-time tracking of assumptions and changes ensures all stakeholders understand the cost structure and remain aligned from start to finish.

Automated estimation improves accuracy by minimizing human errors, ensuring financial projections are reliable for both internal planning and client communication.

Why Count on Project Cost Estimation Software

Construction projects can face countless variables, from material delays and labor shortages to site-specific complications and environmental compliance issues. Navigating these uncertainties requires foresight, and foresight comes from data-driven planning. This is where reliable estimation software proves its worth.

Relying on project cost estimation software ensures that estimations remain aligned with actual field realities. This alignment helps in keeping budgets under control and reducing unpleasant surprises during execution. Estimators can quickly test multiple scenarios, analyze the impact of substitutions, or respond to regulatory shifts with updated projections.

List of the Top Project Cost Estimation Software for Construction Projects

Among the various construction estimator program available in the market, several software solutions have earned recognition for their accuracy, usability, and adaptability. These tools stand out for serving contractors of all sizes with features tailored to real-world site challenges.

1. Dreamer Technoland’s Construction Estimating Software

Designed specifically for contractors and construction professionals, this tool focuses on providing highly customizable estimation features. Built to handle varying project scopes and scales, it allows users to adjust rates, integrate project-specific metrics, and generate professional-grade estimates within minutes. The platform emphasizes simplicity without compromising functionality, making it an excellent choice for businesses seeking tailored digital transformation.

2. EstiBuild

A software solution known for its scalability, EstiBuild offers reliable cost forecasting for both small and large construction firms. Its interface supports multi-user collaboration, making it suitable for large teams handling complex projects.

3. QuantifyPro

This software specializes in quantity takeoff and cost assessment, featuring advanced measurement tools that link design data directly to project costs. It’s ideal for companies with technical teams that prioritize precise planning based on CAD integration.

4. CostCraft

Focused on modular construction, CostCraft provides quick estimation templates and resource libraries for prefabricated systems. It is most effective for projects involving repeated structural components and prefabrication workflows.

5. BuildScope

Designed for general contractors, BuildScope supports live syncing between estimation and fieldwork. It enables instant updates of cost elements based on changes reported from construction sites, offering a dynamic view of evolving project costs.

These software options bring different strengths to the table, and businesses should evaluate based on size, scope, and integration needs. However, for those seeking personalized, future-ready capabilities, Dreamer Technoland’s software remains a standout.

Summary

Estimating construction costs is not just a pre-construction task; it’s a continuous process that shapes the efficiency and success of an entire project. As the industry evolves, traditional estimation methods fail to keep pace with shifting demands. Software-based solutions, particularly those built with customization in mind, offer a dependable way forward.

From tracking material prices and managing labor forecasts to generating polished client-ready estimates, project cost estimation software enhances every layer of planning. Those who invest in purpose-built tools not only streamline their estimation process but also position themselves for sustainable growth in an increasingly digital world.

For construction professionals seeking a flexible and user-friendly solution, the cost estimation software by Dreamer Technoland delivers unmatched value. It combines smart automation with real-time adaptability, helping teams simplify complex budgets and boost project accuracy. Built with contractors in mind, this software supports competitive bidding and long-term project success through intelligent features tailored to real-world needs.

[quantifynorthamericainfo]

Transforming Project Management with Painting Estimating Software

I recall the mayhem of my first major painting job. Too many calls, scribbled notes, and a completely out-of-whack cost estimate. It was stressful, time-consuming, and expensive. That all changed when I began using painting estimating software. From the very first week, I knew how much easier everything went—costs were in order, estimates were crisp, and clients stopped questioning everything.

In a 2023 report, Statista found that 42% of contractors attribute project delays to incorrect estimates. That's a lot. And it's one of the reasons I think painting estimating software is a game-changer for anyone running jobs—big or small.

Accuracy That Actually Works

The program doesn't merely generate arbitrary numbers. You input wall measurements, types of paint, and surface factors. It then works out the entire calculation—from material needs to man-hours. Such specificity avoids overbuying or running short.

I once saved more than ₹25,000 on a commercial office respray. How? The estimate broke down coverage by the gallon in exact details and included two coats. I never would have known to do that by hand.

Smarter Workflows, Less Errors

One of the biggest problems with any paint job is getting the entire crew on the same page. Painting software for estimating simplifies all that. You can revise quotes, book jobs, and issue invoices—all in one dashboard.

I've had instances where customers changed their minds midway through a project. Rather than redoing everything by hand, the software allowed me to modify numbers in real time. That took hours off and kept the crew going.

Establishing Trust Through Transparency

Customers like things clear. One homeowner said to me, "I loved knowing exactly what I was paying for." That stuck. With the software, I was able to break it down line by line. No surprise fees. No ballpark estimates.

That creates confidence. And in this market, that is more critical than ever. To the point that, 67% of customers report they'd pay more for transparent, predictable prices (Forbes, 2023).

Stay Ahead of the Competition

I've had leads arrive simply because I used technology. One property manager informed me, "I only hire painters that use professional equipment. It tells me that they approach the job seriously." That made an impression on me as well.

Employing paint estimating software isn't merely efficient��it's impressive. It conveys professionalism, reliability, and being prepared.

Real Results from Real Projects

I have a friend who utilized estimating software on a 20,000 sq. ft. warehouse project. He completed a week ahead of schedule and under budget. He attributes the software to avoiding waste and delays.

Another contractor colleague does school repainting projects. The software allows him to simply revise costs based on changing product prices—something he had difficulty doing in the past.

The Future is Mobile and Predictive

Looking to the future, the software is just getting smarter. Apps these days often have AI-powered recommendations, which assist you in scheduling around the weather or supply chain delay. Mobile access is a big plus too. You can even update a quote while on-site.

Final Thoughts

Using painting estimating software isn’t just about convenience. It’s about control. About knowing your numbers. About gaining the trust of clients who expect accuracy and clarity. If you haven’t tried it yet, now’s the time. It’s made my life easier—and my business stronger.

[kapilasteel]

How TMT Rod Price Affects Overall Project Budget

In construction, even the smallest cost fluctuations can snowball into major budget concerns. The TMT rod price is often one of the key variables that can significantly reshape the financial planning of a project. Along with it, components like dowel bars and the 8mm rod price per piece can play a huge role in defining where costs will either stay on track or spiral out of control.

The Foundation of Construction Costs

Every construction project begins with numbers. The budget determines everything — from timelines and material selection to labor and finishing quality. TMT rods, being a primary component in structural stability, hold a big share in this cost pie.

When planning a build, project managers usually forecast steel requirements early. That’s where understanding the volatility of TMT rod price becomes essential. It’s not just a line item — it’s the backbone of the build. Any price surge directly impacts both the micro and macro decisions in the entire workflow.

Why TMT Rod Price Deserves Attention

Fluctuations in TMT rod prices aren’t rare. These rods are tied to the market price of raw materials, energy costs, transportation, and manufacturing demands. So, when the price moves even slightly, it can cause shifts in the total material budget, requiring cuts in other areas or reworking the schedule to accommodate bulk purchases.

And it’s not just about quantity. Specific sizes — especially the widely used 8mm rod price per piece — can impact budget forecasts. Since 8mm rods are frequently used in slabs, lintels, and flooring, their unit pricing plays a recurring role in procurement decisions.

How Dowel Bars Add to the Equation

While TMT rods form the structural grid, dowel bars ensure smooth load transfer and joint stability — especially in pavements and slabs. Including them in the plan might seem like a small addition, but their cumulative cost across a large project can affect the bottom line.

What makes dowel bars tricky is that they often get accounted for late in the process. When material estimates fail to factor in their pricing early, sudden additions can disturb the carefully balanced project scope.

8mm Rod Price Per Piece — A Micro Detail That Impacts the Macro

Many project estimators initially overlook the cost impact of smaller-sized rods. But 8mm rod price per piece adds up fast. These rods, though lighter, are required in higher quantities. Over an entire build, the cost deviation from even a marginal price rise can lead to budgetary stress.

For example, if there’s a sudden increase in 8mm rod pricing by even ₹3–₹5 per piece, and a project uses thousands of them, the overall material cost could spike drastically. That’s money that could’ve gone into insulation, plumbing upgrades, or finishing touches.

The Chain Reaction of Poor Price Planning

When steel prices go unchecked, the ripple effect begins. Labor costs increase due to delays. Alternative material options may not offer the same quality, leading to structural compromises. Worst case? The project might halt altogether, waiting for a budget reapproval.

A Calculated Approach Makes the Difference

While there’s no perfect prediction model for market movements, builders can still stay prepared. Leveraging local supplier relationships, monitoring daily steel rates, and always factoring in variables like dowel bars and 8mm rod price per piece ensures a stronger hold on the budget.

Conclusion

Construction budgeting isn’t just about big numbers — it’s about controlling the details. When the TMT rod price moves, so does the entire financial plan. From dowel bars to 8mm rod price per piece, every component holds the potential to tip the balance. Keeping a tight eye on these material prices ensures better decisions, stable progress, and successful project delivery.

[pejasurveying1]

Expert Quantity Surveyor Near You in London for Accurate Cost & Risk Management Services

Looking for a quantity surveyor near you in London? Peja Surveying offers expert cost control, contract management, and risk analysis services. Trusted by homeowners, contractors, and consultants. Contact us today for tailored advice and accurate project estimates.

[asestimationsconsultants]

New Construction Materials Revolutionizing Estimating Services | AS Estimation & Consultants

New construction materials are revolutionizing the way cost assessments are conducted in the industry. Innovations such as self-healing concrete, lightweight composites, and 3D-printed materials are making it necessary to rethink traditional approaches to an Estimating Service. These cutting-edge materials often require updated cost databases, revised labor estimates, and new techniques to ensure accurate project budgets.

At AS Estimation & Consultants, we understand the significant impact of these materials on modern construction projects. In the past, estimating services relied on standard materials, but the emergence of sustainable and high-tech alternatives means estimators must adapt. For example, using prefabricated components might lower labor costs but could come with higher initial material expenses. A reliable estimating Service must account for these variations to offer realistic cost breakdowns.

Moreover, the prices of new materials can fluctuate due to limited availability or production challenges. This makes real-time pricing and predictive analysis essential for accurate cost estimation. By integrating these factors, we provide an Estimating Service that helps contractors and developers avoid costly surprises.

As the construction industry evolves, so should your approach to cost estimation. With AS Estimation & Consultants, you’ll ensure that your projects stay within budget while embracing the latest innovations. Reach out today, and let’s build a better future together!

AS Estimation and Consultants

6/32 LAW VIC 3020, AUS

(61) 488874145

https://asestimation.com/

[reasonsforhope]

"In Sacramento, California, an estimated 6,615 people are experiencing homelessness, a number that — while still heartbreakingly high — has declined 29% since 2023, according to the latest Point In Time counts. 

But a new project, which has been in the works since 2022, might bring that number down even lower.

A new 13-acre property purchased by Sacramento County will soon be home to the Watt Service Center and Safe Stay. 

The county broke ground on the mixed-use service center this week, which will provide shelter, emergency respite, safe parking, health services, and more to community members who are unsheltered — meaning they don’t have a place to safely sleep at night.

“We wanted to do something that is not only larger, but a large-scale campus to provide more than just the shelter,” Janna Haynes, of the county’s Department of Homeless Services and Housing, told KCRA3 News.

The Watt Service Center will have amenities to help meet the needs of anyone staying there, including bathrooms, showers, laundry, and food, as well as mental health, treatment, and employment services.

“You can also meet with your case manager, get behavior health services, look for a job, get rehousing services, a place for your dog,” Jaynes added. “It’s really everything you need, not only for your day-to-day life, but to hopefully end your homelessness.”

While the center is a costly offering, the city explained that it is ultimately less expensive than allowing the homelessness crisis to go unmitigated.

The land was purchased for $22 million and will cost an estimated $42 million to construct the center. According to ABC10 News it will be mostly funded by the American Rescue Plan Act.

While the center will have the capacity to host 225 beds in Safe Stay cabins, 50-person capacity in Safe Parking, and 75-person capacity for emergency/weather respite beds, it will serve countless others outside of the 350 total people it can house at any given time.

According to a press release from the county, “conservative estimates” have found that over the course of 15 years, the center will serve 18,000 people.

In 2017, the city found that the average cost for an “unsheltered individual” was about $45,000 a year, considering public systems like county jail, shelters, behavioral health, and more.

With the projected impact of the shelter, that cost lowers to less than $3,600 per person.

“If you break down the funding, it’s actually not that expensive,” Rich Desmond, county supervisor for District 3, told ABC10.

“It’s a heck of a lot cheaper than letting someone stay out in the community, unsheltered where they are extremely expensive in terms of the emergency response from fire, our emergency rooms, our law enforcement response.”

Providing what the county calls “wraparound services” not only brings down costs but truly helps people meet their basic needs.

“The really great thing about this site in particular, that we don't have at any other shelters, is the sheer size and the ability to really wrap everything people need,” Emily Halcon, director of the Department of Homeless Services and Housing with Sacramento County, told ABC10. 

One notable feature is the center’s Safe Parking spaces, which are the first of their kind in the city. People living in their cars will now have a safe place to park, monitored by security.

“We know a lot of people who are unsheltered actually are living out of their cars,” Desmond said, “maybe a family that’s barely hanging on but they still need that vital transportation to get their kids to school or get to work.”

This support is especially helpful for those who are newly homeless, Halcon added, building on the amenities provided in the county’s two other “safe stay” facilities. 

While Sacramento County just broke ground on the Watt Service Center, officials say they hope to begin moving people into the facility in January 2026.

“Our staff is putting in extra time and attention to this campus, ensuring that it houses everything we need to end homelessness for people,” Desmond said in a statement.

Once it’s up and running, Jaynes told KCRA3, they plan to onboard formerly unhoused community members as part of the staff at the facility.

“When you have a conversation with someone who understands where you’ve been, and you see the success they’re having now,” Jaynes said, “it really does give you hope something could be different.”

-via GoodGoodGood, January 24, 2025

[interiordesignersinnoida]

When planning an interior design project or home renovation, understanding the costs involved is crucial. From calculating furniture expenses to getting accurate estimates for modular kitchens, having the right tools and resources can make all the difference.

An interior cost calculator or interior design calculator helps you estimate the overall expense by factoring in design complexity, materials, and labor. Homeowners in Noida Delhi NCR can benefit from a home renovation cost calculator Noida for regional-specific estimates.

[bidkon]

Common Mistakes in Cost Estimation and How to Avoid Them

Thus, cost estimation forms an important part of every construction project process and happens to be its major success determinant. Therefore, the aspect of cost estimation is relevant in budgeting and planning, not allowing the aspect of financial consumption to shoot up. These estimations bring about common mistakes that make a huge discrepancy in the reliable estimate of the costs which are to rise. The learning related to these mistakes and the know-how to avoid them is quite important for construction project management firms, cost consultants, and quantity surveyors. 

Underestimating Project Scope

The most common mistake in estimating cost is when there is an underestimated project scope. This usually happens because of ineffective project planning where the requirements of the project have not been well understood. Poorly estimated scope results in delays, cost overruns, and poor-quality work. Elaborate project planning and discussion with stakeholders should pave the way for capturing all facets of a project. Furthermore, engaging the services of construction project management firms will also substantiate definition of scope accurately, otherwise the scope of a project in terms of tender cost estimation will miss out on several elements.

Ignorance of Market Conditions

Ignorant of Market Conditions. Prices of materials, labour, and equipment are bound to fluctuate for a number of reasons—economic scenarios, changes in source of supply, and fluctuations in demand for material, among others. Ignoring these would lead to serious overruns with variances between estimation and actual cost. In order to minimise these risks, the cost consultant shall ensure keeping abreast with market trends in the price level and shall provide for contingencies with all material prices possibly changing within the estimate. Review and update cost estimates on a regular basis in order to reflect prevailing conditions in the market to ensure that it does not lose its accuracy over time.

Poor Risk Management

Poor risk management is another critical cost estimation predicament. Construction projects are prone to being inherently risky in nature, such as risks from weather, unforeseen site conditions, and regulatory changes. In case they are not properly catered for, they may ultimately lead to high cost overruns. Whatever the case, a quantity surveyor should be able to carry out a comprehensive risk assessment and include appropriate contingencies in his cost estimate. The more the risks are identified early and planned for in advance, the more reliable and resilient the cost estimate that the construction project management firm will establish.

Being Negligent About Indirect Costs

Many estimators only consider direct costs like material and labour costs, and most of the time, they skip indirect costs. Examples of indirect costs are those associated with project management, permits, insurance, and overhead. Ignoring such costs during estimating the same may cause underestimation. Therefore, it should be detailed either through direct or indirect costs. Involvement of professional cost consultants with relevant experience will ensure the fact that necessary costs have been taken on board and the cost estimate is made reliable and accurate.

Conclusion

Accurate prediction of cost is important in construction. Construction project management firms, cost consultants, and quantity surveyors can enhance their estimate reliability by observing principles that prevent the usual mistakes in underestimation of project scope, non-consideration of market conditions, improper risk management, and neglecting indirect costs. Adequate planning, continuous market study, effective risk evaluation, and detailed cost breakdown are the major strategies to be followed to enhance the practices regarding cost estimation. This is apart from assisting in delivering projects on budget; they would also help in the overall efficiency and profitability of construction endeavours.

[batboyblog]

Things the Biden-Harris Administration Did This Week #39

October 18-25 2024.

President Biden issued the first presidential apology on behalf of the federal government to America's Native American population for the Indian boarding school policy. For 150 years the federal government operated a system of schools which aimed to destroy Native culture through the forced assimilation of native children. At these schools students faced physical, emotional, and sexual abuse, and close to 1,000 died. The Biden-Harris Administration has been historic for Native and Tribal rights. From the appointment of the first ever Native American cabinet member, Secretary of the Interior Deb Haaland, to the investment of $46 billion dollars on tribal land, to 200 new co-stewardship agreements. The last 4 years have seen a historic investment in and expansion of tribal rights.

The Biden-Harris Administration proposed a new rule which would make contraceptive medication (the pill) free over the counter with most Insurance. The new rule would ban cost sharing for contraception products, including the pill, condoms, and emergency contraception. On top of over the counter medications, the new rule will also strength protections for prescribed contraception without cost sharing as well.

The EPA announced its finalized rule strengthening standards for lead paint dust in pre-1978 housing and child care facilities. There is no safe level of exposure to lead particularly for children who can suffer long term developmental consequences from lead exposure. The new standards set the lowest level of lead particle that can be identified by a lab as the standard for lead abatement. It's estimated 31 million homes built before the ban on lead paint in 1978 have lead paint and 3.8 million of those have one or more children under the age of 6. The new rule will mean 1.2 million fewer people, including over 300,000 children will not be exposed to lead particles every year. This comes after the Biden-Harris Administration announced its goal to remove and replace all lead pipes in America by the end of the decade.

The Department of Transportation announced a $50 million dollar fine against American Airlines for its treatment of disabled passengers and their wheelchairs. The fine stems from a number of incidences of humiliating and unfair treatment of passages between 2019 and 2023, as well as video documented evidence of mishandling wheelchairs and damaging them. Half the fine will go to replacing such damaged wheelchairs. The Biden administration has leveled a historic number of fines against the airlines ($225 million) for their failures. It also published a Airline Passengers with Disabilities Bill of Rights, passed a new rule accessible lavatories on aircraft, and is working on a rule to require airlines to replace lost or damaged wheelchairs with equal equipment at once.

The Department of Energy announced $430 million dollars to help boost domestic clean energy manufacturing in former coal communities. This invests in projects in 15 different communities, in places like Texas, West Virginia, Pennsylvania, Tennessee, Kentucky, and Michigan. The plan will bring about 1,900 new jobs in communities struggling with the loss of coal. Projects include making insulation out of recycled cardboard, low carbon cement production, and industrial fiber hemp processing.

The Department of Transportation announced $4.2 billion in new infrastructure investment. The money will go to 44 projects across the country. For example the MBTA will get $400 million to replace the 92 year old Draw 1 bridge and renovate North Station.

The Department of Transportation announced nearly $200 million to replace aging natural gas pipes. Leaking gas lines represent a serious public health risk and also cost costumers. Planned replacements in Georgia and North Carolina for example will save the average costumer there over $900 on their gas bill a year. Replacing leaking lines will also remove 1,000 metric tons of methane pollution, annually.

The Department of the Interior announced $244 million to address legacy pollution in Pennsylvania coal country. This comes on top of $400 million invested earlier this year. This investment will help close dangerous mine shafts, reclaim unstable slopes, improve water quality by treating acid mine drainage, and restore water supplies damaged by mining.

Data shows that President Biden's Inflation Reduction Act (passed with Vice-President Harris' tie breaking vote) has saved seniors $1 billion dollars on out-of-pocket drug costs. Seniors with certain high priced drugs saw their yearly out of pocket costs capped at $3,500 for 2024. In 2024 all seniors using Medicare Part D will see their out of pocket costs capped at $2,000 for the year. It's estimated if the $2,000 cap had been in effect this year 4.6 million seniors would have hit it by June and not have had to pay any more for medication for the rest of the year.

The Department of Education announced a new proposed rule to bring student debt relief for 8 million struggling borrowers. The Biden-Harris Administration has managed despite road blocks from Republicans in Congress, the courts and law suits from Republican states to bring student loan forgiveness to 5 million Americans so far through different programs. This latest rule would take into account many financial hardships faced by people to determine if they qualify to have their student loans forgiven. The final rule cannot be finalized before 2025 meaning its fate will be decided at the election.

The Department of Agriculture announced $1.5 billion in 92 partner-driven conservation projects. These projects aim at making farming more susceptible and environmental friendly, 16 projects are about water conservation in the West, 6 support use of innovative technologies to reduce enteric methane emissions in livestock. $100 million has been earmarked for Tribal-led projects.

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Navigating Costs: The Role of Commercial Building Cost Estimators

Commercial building cost estimators play a crucial role in the construction industry by accurately assessing project expenses. They analyze various factors such as materials, labor, and overhead costs to develop comprehensive budgets. Their expertise ensures that projects remain financially feasible and within budget constraints. Using advanced software and industry knowledge, these estimators help stakeholders make informed decisions, ultimately facilitating successful construction ventures.