Bill of Quantities and Cost Estimates 9.1 General This report summarizes selected key parameters for the estimation of costs of the Madian Hydropower Project and the cost estimate itself for all its major components. Named after Lang (1947). The estimation of private costs is the focus of the cost estimation procedures and data in this Manual. Both EPA and OMB have developed guidance on methods appropriate for use in estimating social costs for regulatory impact analysis or economic impact analysis where the social costs of government interventions are assessed. 9. Please note that while cost estimating in support of design-bid-build projects is covered in depth in this manual, there are certain other conditions, such as design-build project delivery, (definitive estimate in certain cases, ±10% ) See Table 7-8, p. 194 in TBW&S 4. Page 4 Cost Estimating Manual for Projects M 3034.04 December 2020 4. During the pre-feasibility stage the Consultant setup a preliminary unit cost data base and carried out the cost estimates for Purpose of the Department of Defense (DoD) Cost Estimating Guide This guide provides consolidated information on the DoD cost estimating process and points the reader to additional references and training for specific estimating topics. Total Cost = Square Foot Unit Cost * Square Footage Total Cost = 231 * 10000 = $ 2,310,000 Department.jpg 12 Cost Estimate Example The square foot unit costs are based on average US$ costs. All items in the direct and indirect cost are evaluated as a percentage of the delivered-equipment cost. 3 1.2 Contents of the Cost Estimating Guideline The Estimating Guideline contains six sections. Estimation based on “Lang” factors . Adjust the estimate for the City of Montreal in CAD$. Assume 1 US$ = 1.3 CAD$. Cost estimating input includes formed deliverable oriented work packages (usually in the form of a well-defined Work Breakdown Structure), historical data, chart of accounts, risks, duration of activities, resources and unit rates of resources. Although not always required by clients, detailed cost estimates can be an important part of overall cost management and budget adherence. Detailed cost estimating is the process of predicting the cost of a facility through quantitative analysis of the work required by the design documents. The detailed estimate includes determination of the quan-tities and costs of everything that is required to complete the project. This includes materials, labor, equipment, in-surance, bonds, and overhead, as well as an estimate of the profit. Project cost estimates are based on identifying, quantifying, and estimating the cost of consuming all Percentage of Delivered-Equipment Cost. Methods For Estimating Capital Investment 3. Improved communication and credibility with external stakeholders: • Consistent and clear communication of cost estimates to external stakeholders at milestone points • The ability to communicate cost estimates … Cost estimating and cost management tools continue to be developed and will be added to the department’s estimating tool box as they become available. Basis of Estimate and estimate of uncertainty in cost estimate • BoE is a description of how cost estimate was obtained for each WBS element for which a cost is estimated (not roll-ups) • Please use the information in the Risk Form checklist/recipe and example below to provide the Basis of Estimate To perform this type of estimate, the contractor must have a complete set of contract documents. 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