Eos Group | Blog
It’s common during the preconstruction or feasibility phase to receive a request for a rough order of magnitude forecast for a theoretical future project. These requests have different names: initial budgets, preliminary proposals, first price responses, feasibility-stage estimates, or best guesses. There are also more colorful names, but I digress.
When I witness confusion in the markets we serve, I try to bring clarity to improve the decision-making process. Education is vital to advance our knowledge and improve our systems.
Topics: Nick Papadopoulos, benchmarking, Project History, Cost Estimating, Estimating, Cortex Project History, Benchmarking Solution, Project Delivery, Process Management System, Project Estimate, Historical Data Management, Operational Management System
Eos Group has received requests for an automated mapping feature in Cortex and plans to add this functionality in the future. In the meantime, here’s how you can use Google Maps to create a map in just a few easy steps!
When benchmarking a new project against past projects, it’s critical to level the playing field. Cortex calls this normalizing the data. In the Administration module, you can set up many different types of factor tables to adjust:
The annual AACE International conference is next week, June 24–27th in San Diego, CA. Our own CEO, Nick Papadopoulos will be there along with our Senior Consultant, Tony Colburn. Be sure to stop by their booth, #208 and learn more about Eos Cortex Project History, our next-generation benchmarking solution.
Topics: Project Controls, Nick Papadopoulos, benchmarking, AACEI, Project History, Cost Estimating, Eos Group, Estimating Software, AACE, Cortex Project History, Cortex, Project Analysis, Eos Cortex, Project Analytics, Tony Colburn
Programs pose a unique challenge for estimators hoping to capitalize on project history. Projects constructed as part of a group or program are often executed in fundamentally different ways than their stand-alone counterparts, which offers economies and efficiencies that do not exist for stand-alone projects.
Topics: benchmarking, Project History, Cost Estimating Solution, Cost Estimating, Eos Group, Estimating Software, Estimating, Cortex Project History, Cost Engineer, Cortex, Benchmarking Solution, Project Analysis, Eos Cortex
Topics: Cost Estimator, benchmarking, Project History, Eos Group, Estimating Software, Cortex Project History, Conceptual Estimating, Trend Analysis, Cortex, Benchmarking Solution, Project Analysis, Eos Cortex
Slashing infrastructure investment risk, a new global coalition aims to transform construction cost system
The International Construction Measurement Standards (ICMS), a new high-level benchmarking and reporting framework for international cost classification, reporting, and comparison, was launched yesterday, July 24, 2017. ICMS aims to provide greater global consistency in classifying, defining, measuring, analyzing, and presenting construction costs at a project, regional, state, national, or international level.
Topics: Cost Estimator, benchmarking, Project History, Cost Estimating Solution, Cost Estimating, Eos Group, Estimating Software, Cortex Project History, Conceptual Estimating, Trend Analysis, Cortex, ICMS, International Construction Measurement Standards, Construction