Major projects rarely fail without warning. The warning signs are usually visible long before the final cost overrun, programme delay or uncomfortable board meeting. Scope remains unclear. Assumptions are left untested. Design development moves more slowly than expected. Risk allowances become placeholders. Market conditions change, but the estimate does not. Yet organisations often wait until…
Cost planning is the delicate art of predicting how much a project might cost before the project has decided what it actually wants to be. At its best, it brings structure to uncertainty. It connects scope, design maturity, programme, procurement, market conditions, risk and delivery strategy into a cost position that decision-makers can understand and…
Contingency is one of the most commonly used words in cost estimating. It is also one of the least consistently understood. Ask five people on the same project what ‘contingency’ means, and you may receive five different answers. One person will call it a risk allowance. Another will describe it as money for unknowns. Someone…
A cost estimate is not just a number. It is the result of decisions, assumptions, exclusions, quantities, rates, risks, programme information and professional judgement. Yet on many infrastructure projects, the document that should explain all of this — the Basis of Estimate, or BoE — is treated as an administrative attachment. It is written at…
You’re a seasoned cost estimator, knee-deep in spreadsheets, meticulously calculating the lifespan of a bridge, a highway, or perhaps a shiny new airport terminal. You’ve heard whispers of a magical elixir called “Life Cycle Costing” (LCC) that promises to extend the life of these assets, but is it truly the fountain of youth for infrastructure,…
Fasten your seatbelts, infrastructure enthusiasts, because we’re about to embark on a wild ride – the rollercoaster of infrastructure spending budgets! Infrastructure spending: unlike your favourite theme park attraction, this ride is filled with unexpected twists, stomach-churning drops, and enough loop-the-loops to make even the most seasoned cost estimator feel a little green around the…
For all you infrastructure enthusiasts, let’s delve into a topic that’s not just about the weather you check before your morning commute but the economic weather that directly impacts our projects! Predicting cost fluctuations in infrastructure can often feel like trying to forecast a hurricane rather than consulting a spreadsheet. Perhaps we should consider adding…
All right, infrastructure enthusiasts, buckle up! Forget the latest whodunit; the real nail-biting plot twists are happening in project costing! As cost estimators, we bring our expertise to the table, crafting budgets and meticulously planning for every scenario. However, infrastructure project costing has a way of throwing curveballs that would make even the most seasoned…
For all you infrastructure enthusiasts and professionals, let’s avoid over-optimistic visions and delve into the realities of budgeting. As a cost estimator, I often face budgets that seem to have been calculated with tonnes of over-optimistic views. While a positive outlook is commendable, injecting a dose of budgetary realism into our infrastructure projects is crucial. So,…
All right, my fellow infrastructure enthusiasts, let’s delve into a topic that unites us all—the ever-changing, unpredictable weather of project budgets and cost estimates! Despite our best efforts with fancy spreadsheets and complex formulas, cost estimates often feel less like a science and more like navigating a dense fog. We all squint through the uncertainty, make…
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