Forum Session: Accurate construction cost estimates for successful research facility projects

Accurate and reliable cost estimating during planning and design prevents funding shortfalls, stalled projects, and unnecessary scope reductions. The challenge is determining which estimating methodology delivers accuracy. Here, James Vermeulen and Richard Vermeulen use four recent research facilities to detail a benchmarking cost approach designed to bring accuracy to the cost control process. They examine the role of contingencies in the cost planning process, and they reveal how contingencies guard against fluctuations in market escalation. They also reveal how alternative project delivery methods, such as lump-sum bid versus construction manager/GMP, affect cost estimating methodologies.

This session is approved by the AIA for continuing education credit.
This session also qualifies for HSW credit.

• James Vermeulen, PQS , President - Vermeulens Cost Consultants
  
• Richard Vermeulen, PQS , Principal - Vermeulens Cost Consultants