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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 .

• consider possible scope variations in the tender as a contingency to adjust to the owner’s budget; • give designers sufficient time to finalize 100% bid documents for the pre-tender estimate; and • allow cost consultants or estimators sufficient time to prepare and finalize pre-tender estimates. During Tender

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