Construction Program Management

72  •  Construction Program Management

ere is debate among the professions regarding which method of cost

estimating produces the best results. In my opinion, the best approach is to

have a design professional perform an analogous estimate and a construction

professional perform a parametric estimate, and then reconcile the results.

Each method has its advantages, and the process of reconciliation itself can

lead to a healthy exchange of ideas and potentially more accurate estimates.

For the best results, the process should be completed at each design gate

(conceptual, design development, and construction documents) and as the

design becomes more rened so will the estimates.

Once indirect and direct costs are estimated, the team will need ...