Remove Contracts Remove Cost Control Remove Estimating
article thumbnail

Cost-Plus Vs. GMP Construction Contracts

Rabbet

When evaluating what type of contract to use, they likely have different priorities, too. There are many different types of contracts , but two of the most common are cost-plus and guaranteed maximum price. Keep reading to understand the difference between the two and evaluate which one is right for you.

article thumbnail

Preparing Independent Government Estimates – IGEs , IGCEs

Job Order Contracting

Preparing Independent Government Estimates – IGEs is fundamental to achieving best value outcomes. Unfortunately, the process is largely done inappropriately and without cost transparency or visibility, and rarely is verifiable. Most Independent Government Cost Estimates are Not Well Documented. FAR 36.203.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Controlling Construction Costs, Rocket Science, and Time Travel

Job Order Contracting

Controlling construction costs is not rocket science, nor does it involve time travel. Any real property owner can control construction costs for facilities repair, renovation, maintenance, and new build projects. Controlling Construction Costs is not rocket science 1.

article thumbnail

Validity of a Construction Cost Estimate – Public Sector

Job Order Contracting

The validity of a construction cost estimate, the most important aspect, is often overlooked and resulting in billions of dollars was every year. A construction cost estimate must be independently validated. Key Principles There are key principles that should be adhered to when preparing a construction cost estimate.

article thumbnail

Controlling Job Order Contract Costs

Job Order Contracting

Controlling the Costs of Job Order Contract Work Orders. While Job Order Contracting can provide significant benefits over traditional construction services procurement and project delivery methods, controlling Job Order Contract Costs is a key consideration.

article thumbnail

Credible Construction Estimate Core Elements

Job Order Contracting

A credible construction cost estimate is required prior to engaging in procurement. The follow elements are common to a credible construction cost estimate. 2 Timeliness – All cost data must be current. applied to a outdated cost estimate will introduce significant error.

article thumbnail

Granular Local Market Cost Data is Essential for Construction Cost Visibility & Management

Job Order Contracting

Granular Local Market Cost Data is Essential for Cost Visibility & Management (Repair, Renovation, Maintenance, & New Builds) Using current, verifiable, and detailed local cost dat a instead of national averages with adjustment factors ensures: Cost transparency All labor, material, and equipment costs are broken down and verifiable.