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Improving the Accuracy of Early Cost Estimates for Federal Construction Projects (1990) / Chapter Skim
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Executive Summary
Pages 1-2

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... . Federal agencies, like most organizations win large continuing construction programs, have long recognized the importance of these early estimates, and they have instituted various policies and procedures to help ensure that such estimates are prepared carefully and properly.
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... On the basis of its review of a variety of ideas for improving the estimating procedures of federal agencies, the committee recommends that agencies: 1. Make a concerted effort to cooperate in the following ways: by developing standard terminology and formats for their budgets and estimates; by cosponsoring cost engineering research and sharing research results, especially research on automated estimating systems; and by pooling and sharing cost data, especially on commonly constructed facilities.
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Key Terms

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  • construction phase
  • urges agencies
  • construction documents
  • federal expenditures

  • construction projects
  • root causes
  • prepared carefully
  • importance attached
  • improve estimating

  • cost data
  • developing standard
  • research board
  • commonly constructed
  • automated estimating

  • standard terminology
  • constructed facilities
  • tight control
  • estimating procedures
  • adequately performing

  • maintain time
  • cost engineering
  • continuing construction
  • employ value
  • accurate definition

  • estimating services
  • innovative approaches
  • successful project
  • fee allocations
  • sharing research


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