Improving the Accuracy of Early Cost Estimates for Federal Construction Projects

摘要

The construction agencies participating in the Federal Construction Council requested the Building Research Board (BRB) to appoint an advisory committee to review their current cost estimating practices and, recommend ways of improving those practices. As part of its study the BRB Committee on Budget Estimating Techniques investigated the extent, nature, and causes of the budget-related problems experienced by federal agencies on their construction projects. The committee found that agencies encounter such budget-related problems on a significant percentage of their construction projects (approximately 35 percent on average). However, the committee concluded that, contrary to widespread belief, such problems are not primarily the result of faulty estimating techniques. The report presents the committee's recommendations for improving federal agencies' budget estimating procedures and practices in related areas.