A Basis of Estimate (BOE) is a required component of a construction cost estimate as defined by AACE International’s Total Cost Management (TCM) Framework. A BOE is used to define the time, resources, and money required to successfully complete a construction project on-schedule and on-budget. If developed properly by an independent construction cost expert like […]
Value Engineering is used in construction projects to provide a clear and detailed analysis of how best to meet the goals of the construction project. Value Engineering, when used with cost estimating, allows for an independent review of the entire construction project. This review process, typically completed within a Value Engineering workshop, is focused on […]
Unfortunately, not much is happening with California high-speed rail. In mid-February, the California high-speed rail project was effectively cancelled. There is much debate and sweating over the future of this project to connect San Francisco and Los Angeles. And a lot of this comes down to politics. I’m not going to dig into the politics […]
The key to preventing cost overruns is in knowing the reasons why cost overruns happen and having the ability to recalibrate a project before it becomes over budget, behind schedule, and beyond recovery. Unfortunately, it has become the norm that construction projects will be over budget and behind schedule. However, the reality should be the […]
To manage a construction project effectively, you must ensure that from the start, the planning and scoping process is done correctly. This means putting enough time and resources into cost estimating, site analysis, plan reviews, hiring and vetting of contractors, and establishing key project benchmarks. Construction project management is the process of managing the entire […]
The lessons learned from the Boston Big Dig highlight the need to have a thorough construction plan that is thoroughly reviewed, questioned, analyzed and vetted before moving forward. The Boston Big Dig is notorious for its scale, scope, mistakes, and feats of construction engineering. As a result, there are many lessons that can be learned […]
Cost engineering is the engineering practice devoted to the management of project cost. Cost engineering consulting involves estimating, cost control, cost forecasting, investment appraisal, and risk analysis. This is value cost engineers bring to each construction project. Cost engineers do the budgeting, planning, and monitoring to ensure that your construction project is viable and successful. […]
Before your executive or project management team discusses a new-from-the-ground-up, publicly funded project, peer out your office window at the tower cranes already dotting the landscape. The bad news? Almost all of those projects are saddled with massive cost overruns, according to a McKinsey Global Institute report. And overbudgeting occurs long before the foundation dries […]
PCS Participates in Inaugural Capital One CATAPULT Program Jan. 24, 2018 FOR IMMEDIATE RELEASE Contact: Lee.Thomas@usa-pcs.com DECATUR, Ga. – Project Cost Solutions was one of 10 companies to nationally compete in Capital One’s inaugural business development program called CATAPULT. The seven-month program, which partnered with the National Minority Supplier Development Council, launched in […]
PCS Participates in Inaugural Capital One CATAPULT Program
PCS Participates in Inaugural Capital One CATAPULT Program Jan. 24, 2018 FOR IMMEDIATE RELEA...
Proper Planning to Prevent Cost Overruns
The construction industry is plagued by misunderstanding surrounding cost overruns. Too many people...
Project Cost Solutions, Inc
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Decatur, Ga 30030
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