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In episode 066 of The Civil Engineering Podcast, I talk with Scott Jennings, P.E. principal of SJ Construction Consulting, LLC about the importance of cost estimating for civil engineers.
Here are some of the questions I ask Scott:
- Can you walk us through the process of putting together an construction cost estimate? What is involved?
- Do contractors use unit pricing for their estimates, or do they evaluate each individual item in a job and customize the pricing to each of the construction activities?
- How is job site and/or corporate overhead incorporated into a bid?
- How is profit/markup handled?
- Is industry standard for bids to often be unit priced (versus lump sum). How are the unit prices determined by contractors (or civil engineers)?
- Is there a difference between estimates on bid day and change order estimating?
Here are some key points discussed on Construction Cost Estimating:
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