Designing  Project Budgets Eric Anderson, AIA Farmingdale State College
<ul><li>Main Entry:  bud·get </li></ul><ul><li>Pronunciation: 'b&-j&t </li></ul><ul><li>Function: noun </li></ul><ul><li>E...
R.S. Means Building Glossary <ul><li>Budget :   </li></ul><ul><li>A rough estimate of the value of a portion of, or total ...
Sources of Information <ul><li>Cost date from previous projects </li></ul><ul><li>Estimating guides - published and online...
Cost Planning Types <ul><li>Order of Magnitude </li></ul><ul><li>Unit cost estimates </li></ul><ul><ul><li>By function </l...
Cost Planning <ul><li>We always must have  : </li></ul><ul><li>Building Type </li></ul><ul><li>Program or Gross Area </li>...
Cost Planning <ul><li>A cost plan or budget should include: </li></ul><ul><li>Design costs </li></ul><ul><li>Construction ...
Cost Planning <ul><li>Design Costs </li></ul><ul><li>Basic Services </li></ul><ul><li>Additional Services </li></ul><ul><l...
Cost Planning <ul><li>Construction Costs </li></ul><ul><li>Conceptual </li></ul><ul><li>SF Building Type </li></ul><ul><li...
Cost Planning <ul><li>FFE Costs </li></ul><ul><li>Furnishing </li></ul><ul><li>Toilet and Kitchen Accessories </li></ul><u...
Cost Planning <ul><li>Project Management Costs </li></ul><ul><li>General Conditions/ Overhead & Profit </li></ul><ul><li>S...
Cost Planning <ul><li>We adjust budgets : </li></ul><ul><li>Contingencies by conditions </li></ul><ul><li>Other factors  <...
Contingencies for Budgets <ul><li>By conditions : </li></ul><ul><li>Site Constraints:  -5 to 15% </li></ul><ul><li>Labor A...
Contingencies for Estimates <ul><li>By phase : </li></ul><ul><li>Concept and Schematic:  15% </li></ul><ul><li>Design Deve...
Escalation  <ul><li>Inflation rate affecting the estimate between the time it is prepared and the midpoint of the projecte...
<ul><li>Cost Projections  </li></ul><ul><li>+ Contingencies  </li></ul><ul><li>+  Escalation  </li></ul><ul><li>Project Bu...
<ul><li>DRVC Budget Planner </li></ul><ul><li>Ohio State Architect’s Office </li></ul><ul><li>Capital Budget Planning Tool...
<ul><li>High </li></ul><ul><li>Median </li></ul><ul><li>Low </li></ul>Develop  Budget Ranges
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Estimates

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Estimates

  1. 1. Designing Project Budgets Eric Anderson, AIA Farmingdale State College
  2. 2. <ul><li>Main Entry: bud·get </li></ul><ul><li>Pronunciation: 'b&-j&t </li></ul><ul><li>Function: noun </li></ul><ul><li>Etymology: Middle English bowgette, from Middle French bougette, diminutive of bouge leather bag, from Latin bulga, of Celtic origin; akin to Middle Irish bolg bag; akin to Old English belg bag -- more at BELLY Date: 15th century </li></ul><ul><li>1 chiefly dialect : a usually leather pouch, wallet, or pack; also : its contents </li></ul><ul><li>2 : STOCK, SUPPLY </li></ul><ul><li>3 : a quantity (as of energy or water) involved in, available for, or assignable to a particular situation; also : an account of gains and losses of such a quantity </li></ul><ul><li>4 a plan for the coordination of resources and expenditures c : the amount of money that is available for, required for, or assigned to a particular purpose </li></ul><ul><li>Main Entry: es·ti·mate </li></ul><ul><li>Pronunciation: 'es-t&-&quot;mAt </li></ul><ul><li>Function: transitive verb </li></ul><ul><li>Etymology: Latin aestimatus, past participle of aestimare to value, estimate </li></ul><ul><li>Date: circa 1532 </li></ul><ul><li>1 archaic a : ESTEEM b : APPRAISE </li></ul><ul><li>2 a : to judge tentatively or approximately the value, worth, or significance of b : to determine roughly the size, extent, or nature of c : to produce a statement of the approximate cost of </li></ul><ul><li>3 : JUDGE, CONCLUDE </li></ul>
  3. 3. R.S. Means Building Glossary <ul><li>Budget : </li></ul><ul><li>A rough estimate of the value of a portion of, or total cost of, a construction project. </li></ul><ul><li>Estimate : </li></ul><ul><li>The anticipated cost of materials, labor, equipment, or any combination of these for a proposed construction project. </li></ul>
  4. 4. Sources of Information <ul><li>Cost date from previous projects </li></ul><ul><li>Estimating guides - published and online </li></ul><ul><li>Local contractors </li></ul><ul><li>Quantity surveyors and estimators </li></ul><ul><li>Personal experience </li></ul>
  5. 5. Cost Planning Types <ul><li>Order of Magnitude </li></ul><ul><li>Unit cost estimates </li></ul><ul><ul><li>By function </li></ul></ul><ul><ul><li>By building type </li></ul></ul><ul><ul><li>By construction assembly </li></ul></ul>
  6. 6. Cost Planning <ul><li>We always must have : </li></ul><ul><li>Building Type </li></ul><ul><li>Program or Gross Area </li></ul><ul><li>Site </li></ul>
  7. 7. Cost Planning <ul><li>A cost plan or budget should include: </li></ul><ul><li>Design costs </li></ul><ul><li>Construction costs </li></ul><ul><li>Fixtures, Furnishings, and Equipment costs </li></ul><ul><li>Project Management costs </li></ul>
  8. 8. Cost Planning <ul><li>Design Costs </li></ul><ul><li>Basic Services </li></ul><ul><li>Additional Services </li></ul><ul><li>Reimbursable Expenses </li></ul><ul><li>Special Consultants </li></ul>
  9. 9. Cost Planning <ul><li>Construction Costs </li></ul><ul><li>Conceptual </li></ul><ul><li>SF Building Type </li></ul><ul><li>By elements Uniformat </li></ul><ul><li>Allowances </li></ul><ul><li>Alternates </li></ul><ul><li>Estimates </li></ul><ul><li>By unit price (take-off) </li></ul><ul><li>Union vs.. </li></ul><ul><li>Open Shop </li></ul><ul><li>Allowances </li></ul><ul><li>Alternates </li></ul>
  10. 10. Cost Planning <ul><li>FFE Costs </li></ul><ul><li>Furnishing </li></ul><ul><li>Toilet and Kitchen Accessories </li></ul><ul><li>Sign Systems </li></ul><ul><li>Specialized Equipment </li></ul><ul><li>Artwork </li></ul>
  11. 11. Cost Planning <ul><li>Project Management Costs </li></ul><ul><li>General Conditions/ Overhead & Profit </li></ul><ul><li>Surveying </li></ul><ul><li>Geotechnical Services </li></ul><ul><li>Plan Review </li></ul><ul><li>Permits </li></ul><ul><li>Testing and Inspection </li></ul>
  12. 12. Cost Planning <ul><li>We adjust budgets : </li></ul><ul><li>Contingencies by conditions </li></ul><ul><li>Other factors </li></ul><ul><li>We adjust estimates with: </li></ul><ul><li>Contingencies by phase </li></ul><ul><li>Escalation to the mid-point of construction </li></ul><ul><li>Other factors </li></ul>
  13. 13. Contingencies for Budgets <ul><li>By conditions : </li></ul><ul><li>Site Constraints: -5 to 15% </li></ul><ul><li>Labor Availability : -5 to 10% </li></ul><ul><li>Material Availability: 0 to 10% </li></ul><ul><li>Document Quality: 0 to 20% </li></ul>
  14. 14. Contingencies for Estimates <ul><li>By phase : </li></ul><ul><li>Concept and Schematic: 15% </li></ul><ul><li>Design Development : 10% </li></ul><ul><li>Escalation to the mid-point of construction </li></ul><ul><li>Other factors </li></ul>
  15. 15. Escalation <ul><li>Inflation rate affecting the estimate between the time it is prepared and the midpoint of the projected construction schedule </li></ul>
  16. 16. <ul><li>Cost Projections </li></ul><ul><li>+ Contingencies </li></ul><ul><li>+ Escalation </li></ul><ul><li>Project Budget </li></ul>Elements of a Budget
  17. 17. <ul><li>DRVC Budget Planner </li></ul><ul><li>Ohio State Architect’s Office </li></ul><ul><li>Capital Budget Planning Tool </li></ul>Cost Planning Samples
  18. 18. <ul><li>High </li></ul><ul><li>Median </li></ul><ul><li>Low </li></ul>Develop Budget Ranges

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