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The book outlines the processes of calculating and critically
reviewing construction costs and times for clients and contractors
in different project phases. Any project or structural analysis
should yield accurate information on times, costs, and prices. The
related database is more or less uncertain depending on project
complexity and the circumstances of work performance. It is thus
recommended to use ranges of key input parameters. This approach
consistently considers uncertainties within a holistic project
view, thus enhancing the plausibility and validity of specific
values. Only the integration of probabilistic methods will allow
for calculating and graphically representing the chance/risk ratio
as a crucial project variable ultimately influencing the entire
business. This book examines the systemic modeling and
consideration of uncertainties when determining construction costs
and times, and life-cycle costs. It contains detailed descriptions
of other decision-making processes, including project preparation
and planning (developer calculation, soil survey, cost estimate),
work preparation (costing, pricing, construction time evaluation,
resource identification, comparison of construction methods, bid
analysis, contract award), and project execution (site logistics,
construction method selection, construction process planning, work
coordination, sourcing, determination of additional costs, trend
analyses), as well as for project portfolio management as a tool
relevant to all phases.
The book outlines the processes of calculating and critically
reviewing construction costs and times for clients and contractors
in different project phases. Any project or structural analysis
should yield accurate information on times, costs, and prices. The
related database is more or less uncertain depending on project
complexity and the circumstances of work performance. It is thus
recommended to use ranges of key input parameters. This approach
consistently considers uncertainties within a holistic project
view, thus enhancing the plausibility and validity of specific
values. Only the integration of probabilistic methods will allow
for calculating and graphically representing the chance/risk ratio
as a crucial project variable ultimately influencing the entire
business. This book examines the systemic modeling and
consideration of uncertainties when determining construction costs
and times, and life-cycle costs. It contains detailed descriptions
of other decision-making processes, including project preparation
and planning (developer calculation, soil survey, cost estimate),
work preparation (costing, pricing, construction time evaluation,
resource identification, comparison of construction methods, bid
analysis, contract award), and project execution (site logistics,
construction method selection, construction process planning, work
coordination, sourcing, determination of additional costs, trend
analyses), as well as for project portfolio management as a tool
relevant to all phases.
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