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Guide to Cost PrediCtability in ConstruCtion

Guide to cost PrediCtability in ConstruCtion :an analysis of issues affeCtinG the aCCuraCy of ConstruCtion cost estimatesPrepared by the Joint Federal Government / Industry cost PrediCtability Taskforcenovember 2012 Guide to cost PrediCtability in ConstruCtion : An Analysis of Issues Affecting the Accuracy of ConstruCtion cost EstimatesNovember 2012 Table of ContentsNote from the Taskforce Chairman ..1 Executive Summary ..2 Taskforce Participation ..3 Introduction to the cost PrediCtability Issue ..4 Issues and Considerations in cost PrediCtability ..6 cost Estimate Variance Matrix ..9 Recommendations for Improved cost PrediCtability ..10 Postscript ..11 Appendix 1 Classes of Estimates ..12 Appendix 2 Documents Recommended for Estimates ..14 Appendix 3 Qualifications for Estimators and cost Consultants.

cost predictability increasingly grew in each taskforce meeting as more and more variables were raised and reviewed. As the topics for consideration ranged from first bid comparison, whether low, median or average, to cost growth during construction, to final project cost, and even whether to review various “soft costs” to the extent

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