ASTM International - ASTM E2514-15
Standard Practice for Presentation Format of Elemental Cost Estimates, Summaries, and Analyses
|Publication Date:||1 May 2015|
|ICS Code (Trade. Commercial function. Marketing):||03.100.20|
significance And Use:
5.1.1 The application of elements (see 3.1.1 and Terminology E833) to the description and the summary and analysis of building construction cost provides a consistency,... View More
5.1.1 The application of elements (see 3.1.1 and Terminology E833) to the description and the summary and analysis of building construction cost provides a consistency, commonality, and utility through all stages of design that other forms of estimate presentation do not.
5.1.2 This practice describes a simple format for elemental cost analysis presentation that is both valuable and informative when used during the various design stages of construction development.
5.2 Use-Users include owners, developers, contractors, cost professionals, estimators, architects, engineers, quantity surveyors, facility managers, and others involved in property development, construction, maintenance, and management.
5.2.4 Other Uses-Elemental summaries and analyses are equally useful in forensic estimating and in quantitative risk analysis.
5.2.5 Relationship to "Trade" Estimating-Tradition
5.2.6 Additional Narrative Information-While costs presented in these formats are descriptive in themselves they do not tell the full story of a project's design. Narrative description of the construction work should also be an integral part of any complete presentation. Reference and description of this narrative form can be found in Practice E1804, and in Classification E1557 Appendix X3-Preliminary Project Description (PPD).
5.3 A detailed description of the presentation formats now follows. These descriptions are provided in eight sections, each intended to aid understanding of a particular facet of the formats:
|Element Inclusions and Exclusions||Section 7|
|Basic Rules||Section 8|
|Numeric Precision||Section 10|
|Estimate Calculation||Section 11|
|Analysis Calculation||Section 12|
|Variations and Additions||Section 13|
1.1 This practice covers the concurrent use of relevant ASTM standards for the preparation of elemental cost estimates, summaries, and analyses and specifically their presentation in a concise, consistent, and logical manner.
1.2 While the style and directions use construction terms applied to buildings, the principles apply equally well to other forms of construction where appropriate elemental classifications exist.
1.3 This practice is not an estimating manual, nor is it a guide to the skills and knowledge required of an estimator or other cost professional.
Note 1: The skills and knowledge acquired by a trained and experienced estimator are essential to the successful application of any elemental presentation format. They are the foundation of any estimate and the underpinning knowledge required when applying the elemental technique.