Make your construction estimating process smarter with aspenOne V8.6

Aspen Technology, Inc. (AZPN), the most trusted solution provider in engineering and optimization software, just unveiled the availability of aspenONE version 8.6 software. The latest AspenTech software is ideal for Engineering & Construction (E&C) as well as Oil, Gas and Chemicals industries to design and maneuver protected plants, calculate project costs precisely from concept to construction.

Benefits of construction estimators:-

Aspen Capital Cost Estimator (ACCE) comprises of newest detailed unit rate estimating which allows the estimators to make calculations into the detailed estimating phase of a project. ACCE V8.6 can easily modify the labor and material unit rates along with materials of construction. This feature enables organization to gain up to +/- 10% exactness and minimize project risk as well as enhance decision creation around the utilization of capital.

ACCE V8.6 facilitates the user to penetrate unit pricing, unit labor, and alter the description of line items in the bulks. Now ACCE can also be applied for figuring out detailed estimates as previously the users were unable to use detailed pricing which is now resolved.

ACCE V8.6 is will save considerable time on estimate, develop the correctness and accuracy of estimates with the progression of any project. The communication amid the estimator and the client as well as will collaboration among engineering disciplines will be enhanced to a great extent. The owners will be able to utilize their capital resource in a superior way under the escalation of cost in the energy and chemical sectors. Strategic Estimating Systems (SES) will be mostly benefitted with this new functionality.

The V8.6 release of aspenONE software, featuring updates to Aspen HYSYS, Aspen Plus, and Aspen Capital Cost Estimator, is available immediately. Customers having the aspenONE Licensing Model can promote to the new version without incurring any extra cost.

For getting more updates visit, http://www.aspentech.com/products/v8-release

  

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Published By

Arka Roy

www.quantity-takeoff.com

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Common Cost Estimation Practice Traits

There are various issues that must be considered to avoid construction risks and some of the common cost estimation practice traits that must be followed in order to enhance the entire process are given below-

Consistency- Methods that are consistent with the industry standard classification systems such as the UniFormatT or CSI MasterFormatT systems as well as in logical order should be employed. The methods that meet the specific requirements of the client should be used. Employing consistent methods helps different estimators to complete various parts of the quantity survey and can also be continued later by another cost estimator. Through consistency cost fluctuation throughout the different project stages can be easily identified. This survey helps in creating the final account summary.

Documentation- Documentation is a crucial part of cost estimation practice. Documentation of all the segments of estimation should be done in a consistent, logical, precise and legible manner. If any specific detail is found to be vague, estimators should review the original estimate for reference. Clarity in documentation enhances its importance to the reader and turns out to be of great help in matters like settlements of claims, change order preparation and review of past estimates.

Verification- For easy and accurate verification, the quantity survey must be carried in a logical and methodical form which works as proof of the accuracy of any portion of the survey.

Evaluation- Evaluation of the bids must be done whenever the estimate involves use of bids from subcontractors. This helps in the scope and responsiveness to the project. Past performance records of the subcontractors submitting bids must be over viewed in this context as this would aid in determining the level of competence as well as the standard of performance.

 

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Published By

Arka Roy

www.quantity-takeoff.com

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Perform Multi-Component Estimates inside One Framework through PRICE TruePlanning

PRICE TruePlanning™ is a cost estimating framework useful for estimating, business management, engineering & program management. It aids in minimizing the time and experience necessary to perform convincing, data-driven parametric estimating required at all stages of an organization ranging from executive, financial, and project/program estimating and management.

It performs as the only cost estimating supporting structure that can incorporate numerous cost models along with hardware, software, IT, assembly, and program management costs inside the same estimate. The PRICE TruePlanning framework develops the importance of numerous PRICE® Cost Models, facilitating estimators to be benefitted with quicker, more insightful, more consistent parametric estimating.

PRICE TruePlanning also allows clarifying the value of project cost histories in the parametric estimating procedure (by PRICE® TrueFindings™) and providing supports to combine dynamic Work Breakdown Structure (WBS) and Cost Element Structure (CES) mapping (through PRICE® TrueMapper™).

 PRICE TruePlanning comes with great features and benefits that will help to create estimates as per your detailed requirements and preferences. Besides, TruePlanning cost estimating applies "discrete numerical values" for leading cost drivers, associated with historical data, to produce for more authentic calibration than competitive alternatives.

TruePlanning contains the following exclusive features:-

• Generate estimates instantly and it helps users to make 30-60% savings in cost and cycle time.

• Make analysis of alternatives (AoAs) easy, by contrasting the impacts of multiple variables.

• Provide a basis for program maintenance activities throughout the prolonged period, for a superior life cycle cost estimating.

• A product breakdown structure for System of Systems (SOS) estimating combining several components under one framework, involving parent-child file relationships that maintain all systems, subsystems, components, and processes inside a single file hierarchy.

• The capacity to relate and view product breakdown structures, cost drivers and outputs in a solitary screen view simplifies the capacity to calculate design tradeoffs across diversified project variables.

• Supplementary program attributes make flexibility in arranging, scrutinizing, and handling cost estimating data and procedures for better insight along with search and mass-edit, year-by-year and total-life-cycle-cost viewing, capability to evaluate views across numerous projects over time, and endless charting combinations to assure exceptional reporting requirements.

• TruePlanning also comes with a wide array of Companion Applications that facilitate users to create custom applications and bring them into the TruePlanning estimation engine and cost models. These consist of an Activity Mapper, an Excel Solution bi-directional interface, Parametric Data Forms, a Sensitivity Analyzer, @Risk Integration, and Crystal Ball Integration.

  

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Published By

Arka Roy

www.quantity-takeoff.com

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Classic Job Estimate Sheet for Contractors

Different types of business houses, contractor, painter or person can utilize the Classic Job Estimate Form for producing a brief estimate to a client for the services these companies offered. The job estimate is segregated into three diverse sections to get an overview for materials applied, labor charges, and other expenses. This form combines all three costs collectively for finding out the total on one form, and serves as a job estimate for the client before proceeding to the work.

The contractor can customize the Classic Job Estimate with their business name, address, phone number and website address if required.

Download this form and it is available in Microsoft Excel format.

 

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Published By

Arka Roy

www.quantity-takeoff.com

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Solidworks costing tool review

The SolidWorks Costing tool helps you calculate how much it costs to manufacture sheet metal and machined parts by automating the cost estimation and quotation process. The tool helps designers make design decisions based on the cost to manufacture, and helps manufacturers create quotes for customers.

The Costing tool is driven by manufacturing and material information in templates that determine the manufacturing cost. In the templates you can specify the material used to create the part, the manufacturing processes (such as laser cutting, bending, or milling), and the associated costs of these materials and manufacturing operations.

See how easy can be to estimate manufacturing cost and provide price quotations for your products with SolidWorks Costing Tool!

 

  

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Published By

Arka Roy

www.quantity-takeoff.com

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Cost Estimating Software - Full Demonstration

CostX is the leading 2D and 3D on-screen takeoff and estimating software. This Full Demonstration video goes over a variety of features in CostX.

For more video demonstrations, please visit www.exactal.com 

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Published By
Arka Roy
www.quantity-takeoff.com
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Excel demo for contractor estimating, billing, costing and changeorders

How to use Excel, Open Office or Google Docs with database lookup in a contractor business.

Here is a demo that shows same contractor estimate I did before in Excel (in fact the inventory master was cut and pasted from Excel).

Cost Estimator for Excel to create accurate cost estimates in less time. Work in a single MS Excel environment to quickly create, build, and manage your estimates. As a contractor, improving estimating efficiency translates to increasing profits.

  

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Published By
Arka Roy
www.quantity-takeoff.com
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Estimating with Excel for the Small Contractor

In the video I will teach you how to use Excel to build a worksheet for estimating projects for the small contractor. The end result is a very basic, but usable estimating template. I hope to make additional videos to expand on this template and build a complete system of estimating, proposals letters, tracking your hours and materials and invoicing the job. All your information about the job is in one worksheet. I am not selling a product and I am a contractor just like you. I just wanted to teach other contractors how to use Excel in estimating. If I get some interest in the video then I will continue to make more of them. If no one is interested then I'll just stop at one video.

  

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Published By
Arka Roy
www.quantity-takeoff.com
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Elements of a Cost Estimate

The foundation for a successful estimate depends on authentic takeoff of the quantities of the various materials involved in the project. The various elements that lead to an effective cost estimate are as:

Labor Hours: Labor hour amounts can be prepared by crew analysis or applied on a unit man-hour basis. The use of a labor dollar per unit of work is only applicable when the cost history supports the data that is being used. The estimator should make allowance for the varying production capability that occurs on the basis of the complexity of a project.

Labor Rates: The labor rate or wage is the cost per hour for the craftsmen on the project. To determine any craft rate, whether union or open shop, the estimator should start with the basic wages and fringe benefits. The estimator should include payroll burdens to the wages and fringe benefits. These are FICA (Social Security), SUI (State Unemployment Insurance), FUI (Federal Unemployment Insurance), WC (Worker Compensation) and others mandated by legislation and/or company operations. These burdens, along with the base wages and fringe benefits, determine the hourly cost of a craft classification which includes carpenter, pipefitter, etc.

The hourly rate can also include an amalgamated crew where different crafts are required for the performance of the work. Overtime or the lack of overtime is another factor that determines the calculation of the hourly rates. A project that is scheduled for completion using a forty hour work week will have a modest amount of overtime costs needed in the estimate. A project that is scheduled for extended 50, 60 or 70 hour work weeks will have a substantial amount included for overtime and loss of productivity.

Material Prices: Material prices fluctuate up and down every now and then and it is important that the estimator understands as well as anticipates the frequency and extent of the price variations and the timing of the buying cycle. Material prices can be affected by:

• Purchase at a peak or dropping time of the year for the manufacturer
• Availability of material
• The size of the order
• The delivery timeframe requirement
• Physical requirements for delivery, such as distance, road size, or site access
• Payment terms and history on previous purchases
• Sole-source items
• Exchange rates (if the material need to be imported into the U.S.)

Equipment Costs: Equipment rates depend on the project conditions to decide on the accurate size or capacity of equipment necessary to execute the work. When interfacing with other equipment, cycle times and equipment capacity control the costs on the project. Costs also vary if the equipment is owned by the contractor and not rented.

Subcontractor Quotes: A subcontractor quote, like the general estimate, contains labor, material, equipment, indirect costs, and profit. It is dependent upon having the quantities, labor hours, hourly rate, etc., developed in an authentic way just like any other part of an estimate. The amount of the subcontractor quote is also depends on the payment terms of the contract, and previous payment history between the subcontractor and general contractor. It is significant to consider the bonding costs.

Indirect Costs: Indirect costs consist of labor, material, and equipment items that are necessary to support the overall project.

For the owner: Design fees, permits, land acquisition costs, legal fees, administration costs, etc.

For the contractor and subcontractor: Mobilization, staffing, on-site job office, temporary construction, temporary heat/cooling, and temporary utilities, equipment, small tools and consumables, etc.

Profit Amount: Appropriate or contracted profit rate should be applied uniformly to all contractors and to original bid and change orders.

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Published  By

Arka Roy

www.quantity-takeoff.com

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An exclusive e-books on cost data titles by RSMeans

RSMeans, a wing of Reed Construction Data and North American based key supplier of construction cost information, has just introduced the availability of  the new digital e-books. These books are added to the huge lists of cost data titles. 

The various estimating professionals will now be able to access the most authentic information from several gadgets in the office or on the job site. 

RSMeans provides an entire library range containing cost data titles which will be very useful for construction professionals for making cost estimates for various types of projects like commercial new construction, facilities maintenance and repair, renovation as well as sustainable construction. The cost data titles include an unlimited range of materials, equipment and labor costs to provide most updated regional construction costs Informations  for owners, developers, architects, engineers and contractors.

Presently RSMeans is giving a 25% discount on all cost data eBook titles all through July 2013. To avail this opportunity the construction professional should apply the promo code epdf-2013. 

For getting more updates, go through http://rsmeans.directfrompublisher.com.

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Published by Rajib Dey
Content Writer

www.quantity-takeoff.com (A well know overseas company for construction estimating)

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