Cost Estimation Workbook - Winter/Spring 2022 Workshop
Cost Estimation Office presents the Cost Estimation Workbook (CEWB) for the Winter/Spring 2022 workshop moderated by Mitch Ball and Ray Johnston. The workshop covers the introduction, highlights, inflation exercise, and project tracking using the CEWB. The workbook provides a consistent format for project estimates, ensuring costs are accurately tracked over the project's lifecycle. Participants can access the CEWB and user guide for detailed instructions and summary breakdowns. Join the workshop to explore cost estimating practices and enhance your project estimation skills.
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Presentation Transcript
COST ESTIMATE WORKBOOK (CEWB) Cost Estimation Office 2022 Estimating Workshop COST ESTIMATE WORKBOOK Winter / Spring 2022 Presenters | Mitch Ball & Ray Johnston Cost Estimation Office 2022 Estimating Workshop Cost Estimating Workshop Winter / Spring 2022
COST ESTIMATE WORKBOOK (CEWB) Cost Estimation Office 2022 Estimating Workshop Cost Estimation Office 2022 Estimating Workshop Mitch Ball & Ray Johnston Winter / Spring 2022 Cost Estimating Workshop Winter / Spring 2022
Module Overview - Agenda Cost Estimate Workbook Introduction to Cost Estimate Workbook (CEWB) Cost Estimate Workbook Highlights Inflation Exercise Summary VDOT Department of Transportation Cost Estimation Office Page 3 Cost Estimating Workshop Winter / Spring 2022
Introduction to Cost Estimate Workbook Cost Estimate Workbook Cost Estimate Workbook Single Consistent Estimate Document Summary of the project estimate broken down by phase and discipline Tracks cost estimate over the life of the project Tracks assumptions and changes between different milestones Ensures project costs are not overlooked or double counted Provides consistent format for all project estimates Link to latest CEWB https://www.virginiadot.org/business/resources/Cost_Estimation_Office/Cost_Estimate_WorkbookCEWB.xlsm Link to CEWB User s Guide https://www.virginiadot.org/business/resources/Cost_Estimation_Office/Cost_Estimate_Workbook_Guide.pdf VDOT Department of Transportation Cost Estimation Office Page 4 Cost Estimating Workshop Winter / Spring 2022
Introduction to Cost Estimate Workbook Cost Estimate Workbook Cost Estimate Workbook & User s Guide VDOT Department of Transportation Cost Estimation Office Page 5 Cost Estimating Workshop Winter / Spring 2022
Construction Estimate Workbook Cost Estimate Workbook Workbook Consists of 4 Tabs Instructions Cost estimate summary Cost estimate tracking Assumptions tracking Workshop Participants are welcome to walk through the CEWB during the presentation. Please open: CEWB-Student- WALKTHROUGH.xlsm General instructions for completing CEWB Cost summary and assumptions entry sheet for the current milestone Cost tracking for all milestones Assumptions tracking for all milestones Cost Estimate Summary Cost Estimate Tracking V2 Instructions Assumptions Tracking VDOT Department of Transportation Cost Estimation Office Page 6 Cost Estimating Workshop Winter / Spring 2022
Project Information Cost Estimate Tab Cost Estimate Workbook Fill in UPC, milestone and estimate date SYIP Projects DETAILED PROJECT COST ESTIMATE SUMMARY Portal ID Project UPC Prepared By: Milestone Select Reviewed By: Date: Clear County / City / Town Locality Type Locality Name Tier Level Select Project Complexity Classification Select Project Classification Estimate Type Smart Portal Fill in Prepared By and Reviewed by Select Project Tier 1 or Tier 2 Select Locality Name Select classification based on the estimate manual (non-complex, moderately complex, most complex) VDOT Department of Transportation Cost Estimation Office Page 7 Cost Estimating Workshop Winter / Spring 2022
Preliminary Engineering Cost Estimate Tab Cost Estimate Workbook Amount derived from source Document estimate assumptions Complete PE Phase dates VDOT Department of Transportation Cost Estimation Office Page 8 Cost Estimating Workshop Winter / Spring 2022
Right of Way Cost Estimate Tab Cost Estimate Workbook Amount derived from source Costs for known items with undefined requirements Document estimate assumptions Complete RW phase dates VDOT Department of Transportation Cost Estimation Office Page 9 Cost Estimating Workshop Winter / Spring 2022
Construction Cost Estimate Tab Cost Estimate Workbook Construction Bid items Oversight Amount derived from source VDOT Department of Transportation Cost Estimation Office Page 10 Cost Estimating Workshop Winter / Spring 2022
Construction Cost Estimate Tab Cost Estimate Workbook Construction Non-bid items Contains all items that are defined in the AASHTO Project Preconstruction Manual Section 5.4 Construction contingency - incidentals, claims, and change orders; Per IIM-LD-249, Tier 1 projects capped at 5%; Tier 2 projects capped at 10% Risk-based contingency; separate line item in AASHTO Precon Manual; For most projects, this will be 0 by PAC milestone Allowance VDOT Department of Transportation Cost Estimation Office Page 11 Cost Estimating Workshop Winter / Spring 2022
LAD Risk and Oversight Tool Cost Estimate Workbook The LAD Risk and Oversight calculation tool provides a consistent framework for VDOT District staff to evaluate the LPA s past performance and project specific risk factors. Three Components: PE Oversight ROW Oversight CN Oversight VDOT Department of Transportation Cost Estimation Office Page 12 Cost Estimating Workshop Winter / Spring 2022
Inflation Information Cost Estimate Workbook Source for Inflation: Smart Portal Annual Inflation (FY 2022) PE 3.00% RW 3.00% CN 3.72% Others 2.7% VDOT Department of Transportation Cost Estimation Office Page 13 Cost Estimating Workshop Winter / Spring 2022
Inflation Information Cost Estimate Tab Cost Estimate Workbook VDOT Department of Transportation Cost Estimation Office Page 14 Cost Estimating Workshop Winter / Spring 2022
Milestone Tracking Cost Estimate Workbook Use the buttons to copy the estimate and assumptions to a separate worksheet VDOT Department of Transportation Cost Estimation Office Page 15 Cost Estimating Workshop Winter / Spring 2022
Cost Estimate Tracking Tab Cost Estimate Workbook Used to track variations in the cost estimate of the following milestones Creation / Pre-Scope Final Scoping (PFI) Public Hearing Field Inspection Pre-Advertisement coordination meeting VDOT Department of Transportation Cost Estimation Office Page 16 Cost Estimating Workshop Winter / Spring 2022
Assumptions Tracking Tab Cost Estimate Workbook Used to track changes in assumptions for the following milestones Creation / Pre-Scope Final Scoping (PFI) Public Hearing Field Inspection Pre-Advertisement coordination meeting VDOT Department of Transportation Cost Estimation Office Page 17 Cost Estimating Workshop Winter / Spring 2022
Exercise #1 How to Use the CEWB Cost Estimate Workbook CEWB Exercise See Exercise folder on the flash drive. Open: CEWB-Student-Copy.xlsm 1 Step 1: Select PE phase level risk as Type 1 risk and use 10% as PE contingency at this stage of the project VDOT Department of Transportation Cost Estimation Office Page 18 Cost Estimating Workshop Winter / Spring 2022
Exercise #1 How to Use the CEWB Cost Estimate Workbook 1 Step 2: Change the milestone to final scoping / PFI estimate VDOT Department of Transportation Cost Estimation Office Page 19 Cost Estimating Workshop Winter / Spring 2022
Exercise #1 How to Use the CEWB Cost Estimate Workbook 1 Step 3: Add $200,000 under MOT Defined cost Revise MOT Allowance to 0 Revise assumption to MOT costs defined based on quantities VDOT Department of Transportation Cost Estimation Office Page 20 Cost Estimating Workshop Winter / Spring 2022
Exercise #1 How to Use the CEWB Cost Estimate Workbook 1 Step 4: Change construction risk-based contingency to 25% VDOT Department of Transportation Cost Estimation Office Page 21 Cost Estimating Workshop Winter / Spring 2022
Exercise #1 How to Use the CEWB Cost Estimate Workbook 1 Step 5: Use Copy button to copy the final scoping / PFI estimate and assumptions to the tracking tabs VDOT Department of Transportation Cost Estimation Office Page 22 Cost Estimating Workshop Winter / Spring 2022
Summary Cost Estimate Workbook Cost Estimate Workbook Every project must have a CEWB Project Manager must update the CEWB at major milestones Single document Consistent summary of the project estimate broken down by discipline Tracks cost estimate over the life of the project Tracks assumptions and changes between different milestones Ensures Project costs are not overlooked or double counted Reflects how inflation will escalate your estimate when entered into system VDOT Department of Transportation Cost Estimation Office Page 23 Cost Estimating Workshop Winter / Spring 2022
To Learn More . . . Cost Estimate Workbook Read Cost Estimate Workbook User s Guide Experiment With Cost Estimate Workbook Start Top, Work Left to Right, Top to Bottom Read Notes and Direction Carefully Do Not Delete Formulas or Make Entries in Non Input Cells Do Not Insert Rows or Cells Review Referenced Guidance LAD Risk & Oversight Matrix IIM LD 249 AASHTOWare Project Preconstruction Training Manual Section 5.4 VDOT Department of Transportation Cost Estimation Office Page 24 Cost Estimating Workshop Winter / Spring 2022
