Construction Advisory Group is committed to contributing to the industry by conducting a blog-conversation on monitoring projects and navigating the construction world.

Monday, November 9, 2009

Cost by the square foot


Engineering News-Record is promoting the new 2010 Edition of ENR Square Foot Costbook.

Quotes from the promotional material include:

“No other publication make cost estimating so easy."

and

“Each project is broken by CSI MASTERFORMAT division and costs are reported in two ways: total cost by division and square foot cost by division.”

For decades, square foot indicators have been used in conceptual estimating. This method is at times successful, and at times not so successful.

A Conceptual Estimate/Budget Projection has been recognized to be more accurate based on a preliminary take-off, unit price estimate and the correct application of factors related to the very local conditions.

In today’s economy, a budget estimate must be closer to reality than at any other time. If a "hard number quote" is to be presented, we would be hesitant to endorse a square foot indicator approach.




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