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Cost Estimating

Bridge Helm Ltd. Construction Cost Estimating Methodology

The Estimates are created using first principles methodology. This is cross checked against existing cost reference data from industry, relevant bids, similar project, and published materials. Estimates conform to accepted industry practices and mirror methods used by contractors to produce bid cost submissions.

The overall method for estimating construction works begins by defining all elements of the design scope; determining the material quantities required, and then pricing items accordingly. Included in the unit cost developed are material, labor and equipment costs. Cost of associated installation are determined by establishing a price structure of labor and equipment, called a ‘spread’, and then setting a production rate. Price predictions are founded upon historical cost data received from major contractors in addition to budgetary quotations obtained for this or similar works.

The fee structure for this project, which includes overhead and profit, is defined and factored into the total cost. These costs will be suggested values based upon similar projects taken from the Bridge Helm Ltd. knowledge base, adjusted for the regional and the current market conditions.

Contingencies will be based on historical price information adjusted to present value. Bridge Helm Ltd. continuously receives cost information from the domestic construction market and applies this data in establishing pricing.

Bridge Helm personnel have extensive local and international experience in estimating all types of marine and upland facilities both container berth and supporting yard facilities.