Get the free Basis of Estimate Handbook Holders

DATE:October 1, 2001TO:Basis of Estimate Handbook HoldersFROM:David Duncan, CES CoordinatorCOPY:Ken More field, Freddie Simmons, Billy Hathaway, Bill Alba ugh, Greg Sanders, Led Chance, William Nicks,

How to fill out basis of estimate handbook

How to fill out basis of estimate handbook

1. Step 1: Begin by gathering all relevant project information and documentation, such as project plans, drawings, specifications, and any other relevant data.
2. Step 2: Break down the project into smaller work packages or tasks. Each task should be clearly defined, with specific deliverables and goals.
3. Step 3: Estimate the quantities of materials, labor hours, equipment usage, and any other resources required for each task. This can be done using historical data, industry standards, or expert judgment.
4. Step 4: Determine the cost of each resource and multiply it by the estimated quantities to get the total cost for each task.
5. Step 5: Consider any potential risks or uncertainties that may impact the project's cost. Add contingency amounts to account for these uncertainties.
6. Step 6: Sum up the costs of all tasks to get the total project cost estimate.
7. Step 7: Review the estimate for accuracy, completeness, and consistency. Make any necessary adjustments or revisions.
8. Step 8: Document the estimate, including all assumptions and supporting data.
9. Step 9: Communicate the estimate to relevant stakeholders, such as project managers, clients, or finance departments.
10. Step 10: Update the estimate as the project progresses, taking into account any changes or new information that may arise.

Who needs basis of estimate handbook?

1. The basis of estimate handbook is useful for various stakeholders involved in a project, including:
2. - Project managers: They need the handbook to develop accurate project cost estimates, manage budgets, and make informed decisions.
3. - Clients: The handbook helps clients understand the costs associated with the project, evaluate proposals, and negotiate contracts.
4. - Finance departments: They rely on the handbook to allocate funds and track project expenditures.
5. - Contractors and subcontractors: The handbook guides them in preparing bids, managing costs, and monitoring project progress.

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