Construction cost data – FINALLY… independent, transparent, and awesome source for locally researched, detailed line item renovation, repair, and construction cost data!
Benefits of OpenCost Construction Cost Data
- Uniform language among staff and service providers
- Shared vision
- Informed decisions
- Managed risk
- Improved efficiency
“I believe this will be very helpful data at the minimum for comparative purposes” – Senior Consultant-Defense/Space/Environmental Services.
“National average” construction cost books, even when used with location factors or localization indexes certainly have a place. That said, every construction cost estimator knows the importance of locally researching labor, material, and equipment costs. Secondly, multiplier factors, even individual labor, material, and equipment factors cause more problems than they solve.
4BT OpenCOST(tm) construction cost data provides up to 60,000 detailed unit line items of locally researched detailed line time cost data for renovation, repair, and construction.
Unlike other cost databases available, 4BT OpenCOST(TM) construction cost data includes locally researched labor, material, and equipment costs. 4BT OpenCost construction cost data has been developed by an professional team with decades of cost engineering, project management, and capital planning experience with organizations such as the R.S. Means Company, LL, U.S. Cost, and VFA, Inc. A team that saw the need for more representative detailed line unit price construction cost data.
4BT OpenCost is available via the Cloud and comes with the 4BT-CE Cloud Cost Estimating Module.
Contact us today to learn more and request the 20-page WHITE PAPER… info@4BT.US
4BT OpenCost Approach & Value
Independent, Objective, & Defensible Locally Researched Construction Cost Data!
Our approach and methodology produces a unit price cost data equivalent to, if not superior than, any other currently available resource. We have a pedigree that dates back to being used with the early DOD Job Order Contracts deployed in the United States, our team has applied their significant cost engineering expertise to provide a solution likely to become the new industry standard.
4BT OpenCost construction cost data is maintained and regularly updated by experience cost engineers/researchers dedicated to the commercial renovation, repair, and construction & Job Order Contracting.
In addition to being the most cost-effective solution, it likely represents the only truly viable industry alternative to solutions provided by organizations such as The RSMeans Company, LLC and/or The Gordian Group.
4BT OpenCost construction cost data is easy to use and clearly reflects commonly encountered renovation and repair construction tasks across a diverse portfolio of buildings and physical infrastructure. It is comprised of approximately 60,000 unit price line items/construction tasks, including labor, material, equipment detail, demolition line items, and line item modifiers.
While some vendors market hundreds of thousands of line items, our experience has shown that this is generally excessive. In fact, too many line items can contribute to delays in learning, errors, and miscommunication. In situations where additional and/or unique/custom construction task line items are required, or team can generally provide a timely response.
Demolition line items are organized by Section and found at the beginning of each Section.
All line items include consistently formatted and clear descriptions for each line item in industry standard common terms that all parties can easily understand. Abbreviations are avoided whenever possible.
Additional labor, material, and equipment details are provided where appropriate.
Line items are organized at multiple levels.
All line items are based upon CSI MasterFormat and organized by MasterFormant Divisions and levels. This allows for simple navigation as well as data updating and maintenance. CSI Masterformat (registered trademark of The Construction Specifications Institute) is the North American standard data format for organizing unit price cost data.
Modifiers are provided and associated with “parent” line items. Our cloud software clearly notes the number of available modifiers per parent line item as well as providing a simple interface to add or remove modifiers estimates. An example of a parent line item would be “Installed 30 Ounce Commercial Grade Carpet – Tufted Loop – Heavy Traffic – Total Cost $30.00/SY” with associated line items for demolition and installation. Associated with the parent line item may be one or multiple modifiers that add or deduct a cost to the parent line item. As an example, a modifier for this line item might be “Borders and Patters – $2.50/SY”. In this case, an additional cost of $2.50/SY would be selected and applied to the parent line item and shown in the associated estimate report with the total cost of $32.50/SY.
As noted, 4BT does not use price factors as this approach can introduce gross errors for certain UPB line items. We locally research cities, counties, and regions to assure delivery of the best possible unit price book with respect to labor, material, and equipment costs. Logical regional areas can also be created for remote and/or “like” areas. Labor rates are painstakingly researched and are based prevailing / Davis-Bacon wage rates. When compared to other labor rates contained within the most widely known cost databases, we estimate that 4BT OPENcost delivers approximately 30% greater accuracy compared to other cost databases. This is significant as labor averages 60% of total construction costs.
4BT OpenCost construction cost data is constantly being updated, however, major updates are provided annually.
Cost Engineering Staff – Our dedicated cost team focus exclusively upon construction cost research, while we also have external cost consultants and resources staff on an as needed basis.
We support our clients, provide financial transparency, conduct local research, and delivery current, actionable data. Common terms and standardized data organization are requisite elements always used.
- Locally researched labor, material, and equipment line items/tasks
- Clear line item descriptions written using industry standard terms, with minimal use of abbreviations, in plain easily understood English.
- CSI MasterFormat data architecture
- Number and type of line items that are required for ninety percent (90%) of the tasks typically encountered for routine renovation, repair, and construction
- Demolition line items
- Line item “modifiers”
- Ongoing updates, with annual major updates
- Independence, Objectivity
- Prevailing Wage / Davis-Bacon Labor Rates
- Construction cost technical support and training by construction cost estimators and project managers.