Risk Matrix Capital Projects Cost of Estimating

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T-4 Failure to identify and document cost estimating standards and provide written policies and procedures to persons responsible for preparing, supporting and reviewing cost estimates.

T-10 Excessive reliance on individual personal judgement where historical experience or cost estimating standards are available.

THREATS NEIGHBORHOOD SERVICES DEPARTMENT:

T-6 Inadequate staff training in the preparation, review and approval of cost estimates.

T-5 Inadequate staff training in the preparation, review and approval of cost estimates.

REDEVELOPMENT AGENCY: T-12 Inconsistent application of cost estimating techniques.

T-1 Failure to define and assign departmental priorities and responsibilities in the cost estimating process.

T-9 Absence of documented analytical support for significant proposed cost amounts.

T-15 Failure to apply prescribed cost estimating standards to contract revisions and change orders.

T-14 Failure to apply prescribed cost estimating standards to contractor cost reviews.

T-2 Inadequate coordination of cost estimating efforts within the agency.

T-3 Inadequate coordination of cost estimating efforts within the Department.

T-16 Inadequate supervision and internal review of cost estimating techniques, practices and results. PUBLIC WORKS DEPARTMENT: T-8 Failure to integrate relevant parts of other management systems with the estimating system so that the ability to generate reliable cost estimates is impaired. T-7 Failure to assure that relevant historical experience is available to and utilized by cost estimators. A A A A A A T-13 Failure to identify sources of data used in developing cost A estimates. A C-1 Trained qualified and experienced personnel. C-2 Documented policies and procedures. C-3 Cost estimates are requested by Department Heads. C-4 A request for service form must be sent to the Real Estate Section. C-5 External sources of information are used by appraisers in preparing cost estimates. C-6 Internal sources of information are used by appraisers in preparing cost estimates. A C-7 Appraisers perform a visual inspection of the property when an estimate is requested. C-8 Cost estimate documentation is retained in Department files. A C-9 "Site Specific" Appraisal is performed, based on the type of property. C-10 Estimated value or range of value is determined by comparing market sales (Comparables) to the subject property. A A A A C-11 All costs are estimated and totalled. These include: closing cost staff time, relocation and administrative costs. C-12 An inflation factor is applied to total cost based on the proposed date of construction. A C-13 Department appraisers must complete an estimate work sheet for each property they evaluate. A A A A C-14 Department appraisers meet with supervising appraiser to finalize estimates before they are sent to requester. C-15 Department Director reviews and approves all cost estimates/property valuations. C-16 Trained, qualified and experienced personnel. A A A A A A C-17 Documented Policies and Procedures. A A A C-18 Priority and responsibility for accurate and reliable estimates is focused at the highest level of the Department. A A A C-19 For each program, the Division Chief reviews and supervises all cost estimating activities performed. A A A A C-20 The project engineer establishes the estimate by scoping the project and preparing a preliminary plan. A A A A C-21 Inflation and interest rate factors are used for projecting costs. A A A C-22 The quantities and unit prices of items of work to be estimated are determined and documented. A A A A A A A C-23 Costs include: project management, master planning, design, environmental, land, construction and construction management. A A A A A C-24 The estimate is increased by 20% to cover cost for project management and E&I. A A A A A A A C-25 The estimate is increased by 10% to cover costs for contingencies. A A A A A A A C-26 Construction cost estimates account for: time of year,...
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