This course is intended to provide key fundamental concepts required to understand Building Cost estimation. All materials and statements made in this course are for educational purpose only. Below are the main concepts covered in this course.
1. Define Cost estimation; this is a key to becoming successful as cost estimator
2. Understand the steps involved in cost estimation; these are applicable to most projects
3. Understand the basic skills required to become cost estimator
4. Define the different classes of cost estimates; This is critical as it help to pick the right estimating methodology and provide the expected accuracy
5. Identify the main players in a building project
6. Distinguish building systems; You need to know them to be able to cost them
7. Explain the main types of project delivery methods. This would affect your cost estimate.
8. Understand the concepts of resources, materials, labour and equipment as applied to building construction
9. Understand sources of valuable information for a cost estimator. This is critical and very helpful
10. Understand the common types of partitions in a buildings
11. Perform a quantity takeoff of building interior’s systems as a general contractor.
12. Understand the fundamental and application of costbooks such as RsMeans in Cost estimation (Bonus!)
Not all projects would have drawings and specifications required. In some projects, the cost estimator would have to develop preliminary design and preliminary cost estimation. Moreover, knowing how to develop a project schedule and how measure cost risks are essential skills. These are covered in separate courses.