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Estimating as a Competency in Capital Projects

Publication No
RR253-11
Type
Academic Document
Publication Date
Apr 01, 2012
Pages
131
Research Team
RT-253
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DOCUMENT DETAILS
Abstract
Key Findings
Filters & Tags
Abstract
The greatest challenge facing the cost estimating community over the next decade is the loss of knowledge and experience from highly experienced estimators. A large percentage of experienced estimators are retiring and there is a shortage of qualified
Key Findings

Extracts from prominent figures in the Estimating field identified some of the most significant factors that impact the accuracy of an estimate: (RR253-11, p. 5)

  1. Project scope definition
  2. Quality of basis of design documents
  3. Project type, size, and location
  4. Estimators experience, skills, and knowledge
  5. Construction knowledge
  6. Market conditions
  7. Time allowed to prepare the estimate

 
Filters & Tags
Knowledge Area
Professional Development, Project Controls
Project Phase
Feasibility, Concept, Detailed Scope, Detailed Design (Engineering), Procurement, Construction, Commissioning & Startup, Handover & Closeout
Project Function
Project Management, Architects & Engineering, Project Controls, Construction, Quality Management
Industry Group
Light Industrial, Heavy Industrial, Buildings, Infrastructure
Research Topic
Estimating as a Competency in Capital Projects
Keywords
Estimator Training, Estimator Evaluation, Estimator Skills, Estimator retention, Estimator Career Path, Estimator Compentency, Estimator Attrition, rt253

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