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4.8 EXERCISES 1. Using the unit price recommended by the architect in the programming construction budget estimate presented in this chapter, what would the budget estimate have been if the anticipated size of the project were 35,000 square feet? 2. Using a unit price of $85 per square foot, what would the Training Center program- ming construction budget estimate have been? 3. What are some of the tools an estimator could use to track changes in design that could affect early budget estimates and ultimately the cost of the project? Budget $360,000 $135,000 Cascade Consulting Services 100 South 10th Avenue Kent, Washington 98002 Project: Training Center Estimator: Arnold Hopkins Estimate Date: January 28, 2003 Schematic Design Construction Budget Estimate System Quantity Units Unit Price Sitework (including sidewalks and landscape) 120,000 sf of site $3 Substructure (foundations and concrete slab) 27,000 sf footprint $5 Superstructure (tilt-up concrete panels and steel) 35,000 sf of floor $8 Enclosure (including windows and roof) 35,000 sf of floor $6 Finishes 35,000 sf of floor $10 Premium for welding shop 2,000 sf of floor $25 Bridge Crane 1 allowance $70,000 Elevator 2 stops $15,000 Mechanical 35,000 sf of floor $7 Electrical 35,000 sf of floor Subtotal Contractor Markups (general conditions, fee, insurance, and taxes) 15% Subtotal Construction Contingency 10% Subtotal Rounding Adjustments Total $280,000 $210,000 $350,000 $50,000 $70,000 $30,000 $245,000 $175,000 $1,905,000 $5 $285.800 $2,190,800 $190,500 $2,381,300 $18,700 $2,400,000 schematic design construction budget estimate at completion of schematic design. Western Construction Company prepared a third construction estimate, which was used to develop the guaranteed maximum price, at the time the proposal was requested. DESIGN STATUS The programming construction budget estimate was prepared based upon a general de- scription of a mixed-use building with approximately 30,000 square feet of space. Some of the floor area was to be office, some open workspace similar to a warehouse, and some un- finished shell space. The estimate was developed without any drawings. The architect is ex- perienced in tilt-up, mixed-use buildings and provided a rough verbal estimate of $70 per square foot, or a total cost of $2,100,000 (30,000 square feet times $70 per square foot). The 30,000 square feet was an early estimate from the architect regarding the size of the CHAPTER 4 building that could be placed on the lot, which was being evaluated for purchase. The $70 per square foot budget unit price was derived from the square-foot database shown in Figure 1-3. About 20% of the completed facility was estimated to be office space, and the remaining 80% warehouse space. The cost factor for office space (office building, 2-3 story) from Figure 1-3 is $107 per square foot and for warehouse space is $60 per square foot. By weighting the square-foot data, a composite cost factor was determined as shown: Office area: 0.2 x $107 per square foot = $21 per square foot Warehouse area: 0.8 x $60 per square foot = $48 per square foot Total: $21 per square foot + $48 per square foot = $69 per square foot, rounded to $70 per square fool No additional clarifications or detail were provided with the estimate. Budget esti- mates such as this are commonly requested by owners but are risky due to the lack of de sign information. If the estimate is too low, the owner may proceed with the project and run short of funds when the design is complete and bids are received. If the estimate is too high, the project may be canceled or scaled back before the budget can be validated. The archi- tect should have added a contingency, but did not. Adding a 20% contingency would have increased the estimated construction cost to $2.5 million. Employment of a general contractor during the preconstruction phase is beneficial to 4.8 EXERCISES 1. Using the unit price recommended by the architect in the programming construction budget estimate presented in this chapter, what would the budget estimate have been if the anticipated size of the project were 35,000 square feet? 2. Using a unit price of $85 per square foot, what would the Training Center program- ming construction budget estimate have been? 3. What are some of the tools an estimator could use to track changes in design that could affect early budget estimates and ultimately the cost of the project? Budget $360,000 $135,000 Cascade Consulting Services 100 South 10th Avenue Kent, Washington 98002 Project: Training Center Estimator: Arnold Hopkins Estimate Date: January 28, 2003 Schematic Design Construction Budget Estimate System Quantity Units Unit Price Sitework (including sidewalks and landscape) 120,000 sf of site $3 Substructure (foundations and concrete slab) 27,000 sf footprint $5 Superstructure (tilt-up concrete panels and steel) 35,000 sf of floor $8 Enclosure (including windows and roof) 35,000 sf of floor $6 Finishes 35,000 sf of floor $10 Premium for welding shop 2,000 sf of floor $25 Bridge Crane 1 allowance $70,000 Elevator 2 stops $15,000 Mechanical 35,000 sf of floor $7 Electrical 35,000 sf of floor Subtotal Contractor Markups (general conditions, fee, insurance, and taxes) 15% Subtotal Construction Contingency 10% Subtotal Rounding Adjustments Total $280,000 $210,000 $350,000 $50,000 $70,000 $30,000 $245,000 $175,000 $1,905,000 $5 $285.800 $2,190,800 $190,500 $2,381,300 $18,700 $2,400,000 schematic design construction budget estimate at completion of schematic design. Western Construction Company prepared a third construction estimate, which was used to develop the guaranteed maximum price, at the time the proposal was requested. DESIGN STATUS The programming construction budget estimate was prepared based upon a general de- scription of a mixed-use building with approximately 30,000 square feet of space. Some of the floor area was to be office, some open workspace similar to a warehouse, and some un- finished shell space. The estimate was developed without any drawings. The architect is ex- perienced in tilt-up, mixed-use buildings and provided a rough verbal estimate of $70 per square foot, or a total cost of $2,100,000 (30,000 square feet times $70 per square foot). The 30,000 square feet was an early estimate from the architect regarding the size of the CHAPTER 4 building that could be placed on the lot, which was being evaluated for purchase. The $70 per square foot budget unit price was derived from the square-foot database shown in Figure 1-3. About 20% of the completed facility was estimated to be office space, and the remaining 80% warehouse space. The cost factor for office space (office building, 2-3 story) from Figure 1-3 is $107 per square foot and for warehouse space is $60 per square foot. By weighting the square-foot data, a composite cost factor was determined as shown: Office area: 0.2 x $107 per square foot = $21 per square foot Warehouse area: 0.8 x $60 per square foot = $48 per square foot Total: $21 per square foot + $48 per square foot = $69 per square foot, rounded to $70 per square fool No additional clarifications or detail were provided with the estimate. Budget esti- mates such as this are commonly requested by owners but are risky due to the lack of de sign information. If the estimate is too low, the owner may proceed with the project and run short of funds when the design is complete and bids are received. If the estimate is too high, the project may be canceled or scaled back before the budget can be validated. The archi- tect should have added a contingency, but did not. Adding a 20% contingency would have increased the estimated construction cost to $2.5 million. Employment of a general contractor during the preconstruction phase is beneficial to
