Feasibility Studies

and

Estimating 


During the initial planning stages of a project, studies need to be made that verify assumptions and identify potential risks. Budget estimates can be prepared early to determine approximate costs. Later, as the design progresses, more defined estimates can be developed. Owners should have a clear picture of expected costs before soliciting proposals from Architects, Engineers and Contractors. Having a thorough understanding of the project and its estimated costs are invaluable when negotiating final agreements with Architects, Engineers and Contractors.

Feasibility Studies and Estimates include information such as:

 

· Average cost and duration of similar projects recently completed.

 

· Random Order of Magnitude (ROM) Project Estimates

 

· Preliminary Project Plans and Schedules including:

 

· Subdivision of Work

 

· Scope of  Work Descriptions

 

· Sequencing & Scheduling of Work

 

· Proposed Contracting Strategies

 

· Proposed Bidders with contact information for:

 

· Architects / Engineers

 

· Construction Managers

 

· Specialty Contractors

 

· Support Contractors

 

Direct Links to Related Checklists & Templates

 

Project Estimating and Invoicing Package

Construction Project Estimating Template

Construction Project Invoicing Template

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