This thoroughly rewritten and updated third edition offers comprehensive coverage of cost engineering, emphasizing capital projects and focusing on both estimating and cost control. Maintaining and enhancing the style of presentation that made the previous editions so popular, Applied Cost Engineering, Third Edition furnishes an entirely new and cost-effective approach to estimating and controlling contingency, a new chapter on systems and computer applications, a new chapter on bulk material control, expanded coverage of the factors that affect estimate accuracy, an introduction to the novel concept of estimate and schedule classification, additional end-of-text case studies, and much more.
Part 1 Cost estimating: estimate accuracy, estimation approaches/classes, estimating methods, computerized estimating, labour productivity, indirect costs, data collection and management, estimate coding and documentation, predicting future escalation, contingency a provision for uncertainties, estimating a revamp project. Part 2 Cost control: introduction to cost control, the cost engineer as part of project management, cost control during conceptual engineering, cost control during detailed engineering - introduction to the problem, cost control during engineering - engineering costs, cost control during detailed engineering - equipment purchases, cost control during detailed engineering - bulk materials, project changes, subcontract development, administration and control, cost control during construction - the first three steps, cost control during construction - forecasting direct field labour, cost control during construction - items other than direct field labour, the monthly cost report and cost control meetings, systems and computer applications, the cost of cost control, selecting a contractor for a reimbursable-type contract, control of bulk materials. Part 3 Case studies.