Cost benchmarking refers to collection and use of cost data in sufficient detail for use in establishing a basis for two primary needs at early stages of scope definition; conceptual estimating and comparison with contractor budgets. The challenge with conceptual estimating is the lack of full maturity of design documents, leaving details up in the air and risking incomplete budgets. The challenge with reviewing and negotiating contractor budgets is similar, but without any basis for cost budgets, the owner is left with little ability to assess the pricing provided by the contractors. Use of a library of benchmarked cost data enables quicker conceptual budgeting and stronger position in negotiating line item budgets.
This webinar will demonstrate best practices in collecting, conditioning, and using completed project cost data to compile a benchmarked database so that it is useful in these areas of budgeting. The speakers have a strong background in estimating and cost management, as well as benchmarking establishment and maintenance, and bring that experience to the discussion.
About the speaker:
Danielle Green, Senior Cost Manager - Arcadis U.S., Inc.
Chris Carson, Director of Program & Project Controls - Arcadis U.S., Inc.
CCM Recertification Points: 1
Professional Development Hours (PDH): 1
AIA Learning Units (LU): 1