Cost Engineering

We believe that cost engineering alone is not sufficient to accurate estimate the true cost of construction projects.  By combining cost engineering expertise with specialist construction know-how, we are able to appreciate the idiosyncrasies of a project or programme and movements within particular market sectors.  This gives our clients real insight and decision-support.

Planning and Appraisal

The tendency for construction projects, particularly major projects, to suffer inaccurate cost estimates is well documented.  We are convinced that independent, expert assessment of costs offers huge benefits, particularly with cost becoming more critical.   There is more pressure than ever to optimise return on investment, to ensure affordability, to choose the right projects to procure or bid.

We produce cost estimates at all stages of the project lifecycle.  Our construction know-how enables us to understand what is required to deliver a project and the inherent risks to time and budget.  We believe this understanding is essential, particularly at the early stages of a project when there may be little information available. 

We apply a rigorous approach across the project’s work breakdown structure to ensure cost estimates have a comprehensive cost build including risk, uncertainty and inflation. 

We generally recommend that range estimates are produced, in probabilistic Three Point Estimating format where practical, so that the project’s range of potential cost outcomes is transparent.

Independent Estimator Role

The Independent Estimator role is one of Benchmark’s core services.  We have two decades of experience acting as Independent Estimator for clients, particularly on target cost contracts.

This role consists of the preparation of first principles estimates aligned with contractors’ submissions, detailed review and analysis, negotiation (with or on behalf of our clients) and agreement of contract sums.

Benchmark’s cost engineering staff come from an engineering contracting and design background and this experience enables a thorough understanding of the project and the contractor’s estimate.  In turn this gives clients the ability to asses contractors’ submissions robustly and to negotiate effectively.

Benchmark has been engaged by authorities and consultants worldwide to perform cost estimates, assess risk and provide value engineering services to ensure a positive result for stakeholders.

Our team has negotiated final target costs for projects ranging from £20 million up to £400 million in value. Benchmark has consistently been able to deliver savings of 5% or greater for clients in a variety of contract environments including: 

• Early Contractor Involvement (ECI)
• Alliance
• Build Own Operate and Transfer (BOOT)
• Design & Construct (D&C)
• Design, Construct and Maintain (DCM)

Process Design

We design and implement tailored estimating processes for our clients using our specialist construction cost engineering experience allied to best practice standards such as the AACEI’s Total Cost Management Framework.  Recent commissions include:

• Estimating process design and procedures
• Authorship of cost estimating manuals
• Development of Work Breakdown Structures
• Development of Cost Breakdown Structures
• Contract Sum Review and Negotiation

Why Outsource your Estimating?

If estimating is crucial to your organisation, find out why you should outsource your major projects to Benchmark

Methodology

Find out how we work for you to produce the best possible results on our Methodology page.

The Roadworks Estimator

Find out more about Benchmark's exclusively owned and operated Roadworks Estimator.

Active Traffic Management

Benchmark Estimating's consultants are experts in the field of estimating and risk analysis of Active Traffic Management.

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