ASTM-E2514:15(R2020) pdf free download – Standard Practice for Presentation Format of Elemental Cost Estimates, Summaries, and Analyses.
6.3 Elemental cost Analysis—This format is the most widely used as it provides a range of high-level information (analysis) about the underlying estimate. This analysis is of most value to the cost estimating and cost controls practitioner. An example elemental cost analysis is included as Appendix X5.
6.3.1 Applying analysis at a high-level permits a relatively simpic and concise, yet sophisticated. review and report on a construction project’s forecast cost that can be applied throughout the design phase. Whether the information available for estimating is scant (before design has been commenced) or extensive (when design has progressed or is finally complete), the analysis format remains unchanged.
6.3.2 To maintain this consistency in reporting and analysis the “high level” element, or parameter, quantities used in the analysis must be obtainable and measurable at, and through, all stages of design.
6.3.3 The consistent format makes comparison between the current elemental cost analysis and other elemental cost analyses easy. Frequent comparison is an essential activity when maintaining control of cost while allowing the design details to develop and increase in complexity through a project’s design phase. The Basic Instructional Model Spreadsheet permits the demonstration of this very simple way of identifying cost deviations from a Benchmark, Baseline, or Elemental Cost Plan.
6.3.4 Cost modeling techniques can generate sophisticated underlying cost estimate detail that can make good use of this “high level” analysis also.
7. Presentation Format—Element Inclusions and Exclusions
7.1 ASTM Standards—Several existing ASTM standards are combined to provide the essential components that together create an elemental format suitable for estimating, analysis, and control.
7.1.1 Classification El557 provides the primary elemental components. It describes and delineates the physical elements in a three level hierarchy. By itself Classification E1557 does not provide a complete hierarchy suitable for use in cost estimating as it omits other essential non-physical elements that are part of any estimating process and are an integral part of any cost presentation.
7.1 .2 Classification E2083 provides additional elements without which any estimate will he incomplete.
7.1.3 Classification E2 168 provides further elements that are essential in any estimate prepared before design is complete. Estimates prepared during the design process are usually expected to be a forecast of a reasonable bid. Therefore estimates prepared during the design process will necessarily need to include allowance for, as yet incomplete or evolving design decisions, or both.
7.2 Inclusions:
7.2.1 Group elements in accordance with Classification El557. These are the Levels 1, 2, and 3 referred to therein. For other forms of construction refer to the relevant Standard Classification of Elements.
7.2.2 Field requirements, office overhead, and profit in accordance with Classification E2083.
7.2.3 Allowances, both general and specific, for intended work as described in Classification E2l68.
7.3 £tclusions:
7.3.1 Consultant fees and disbursements and other items that are not specifically part of the construction cost.
7.3.2 Contingencies, both general and specific, for unintended work as described in Classification E2168.