To get your expected and actual project costs to align, these factors help:
- Timely requirements development
- A well-defined scope
- A mutual understanding and agreement on a successful project outcome, expectations, and constraints
- Open, continuous communication and partnership between your agency and us
Cost and schedule management improvement
The National Cost Management Toolbox provides standard estimating tools regardless of location. It is designed to meet your agency and our requirements. It includes both parametric estimating and a detailed module — and it has standardized reporting, markup methodology, and contingency application.
We use the P120 policy to better scale to below prospectus and leasing projects.
Our estimators are subject matter experts with specific estimating training.
We provide our project team members annual training on:
- Estimating and scheduling tools
- Cost and schedule management best practices
- The P120 cost and schedule policy
Evolution of cost estimates
The initial cost estimate is required with each RWA so you can obligate funds against the project. This estimate evolves with each phase of the project life cycle as costs and scope of work are clearer. As time goes on the accuracy of these estimates increases.
| Estimate type | Purpose | Information available | Accuracy |
|---|
| Order of magnitude | To assist you with initial budgeting to vet work items and properly scope the project | You may not be able to define requirements as very little information may be available | +75%, -40% |
| Budgetary | To establish a project budget after you define the scope of work | Final scope of work, blocking plans, and verification of existing building conditions | ±30% |
| Conceptual design | To check the current project costs against initial budget, scope, and design elements | Design development drawings and project documents are typically 25-40% complete | ±20% |
| Construction estimate | To finalize detailed requirements, which we will use for construction procurement | 100% complete drawings and specifications and all relevant project information | +10%, -5% |
| Contractor bid proposal | To award the construction contract | Bids based on drawings and specifications | Varies based on contractor and market conditions |
| Change order cost evaluation | To verify that costs are fair and reasonable and to verify proper tenant improvement allocation | Varies depending on scope of the change | +10%, -5% |
U.S. General Services Administration