Federal Predictive Whitepaper
 
 
Federal owners have long faced challenges with accurately estimating projects, relying on professionals to predict the cost of work multiple months or years in the future. That is where predictive cost data can help.

 Predictive cost data takes advantage of advances in machine learning, data mining and parametric modeling to enable Contracting Officers to prepare a detailed estimate for projects up to three years in the future with a high degree of accuracy, independent of contractor provided data.

 With this emerging technology, Federal owners no longer need to plan tomorrow’s projects with yesterday’s data.

 Download this whitepaper to learn:
  • Why traditional estimating methods regularly contribute to inaccurate construction budgets.
  • How predictive cost data will change the future of estimating, value engineering and capital planning.
  • How predictive cost data can generate the programmed amount for construction costs more than three years in the future within 3% percent of real market conditions.
  • When to leverage predictive cost data to provide defensible budgets.

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Implementing GAO Best Practices for Cost Estimating with RSMeans Data Online
 
The U.S. Government Accountability Office (GAO) recently updated their Cost Estimating and Assessment Best Practices Guide. Read this to learn how RSMeans Data Online can help Federal estimators apply the new GAO recommendations to construction cost estimates.
 
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How Big Data Can Accelerate Federal Construction and Repair Projects
 
Big data isn’t just for corporations anymore. Federal project owners and facility managers can now leverage vast datasets within new, high-tech tools to transform established, proven delivery methods for construction, repair and maintenance projects to ensure jobs stay within budget and on-schedule.
 
 
 
 
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Construction cost forecasting has always been a challenge due to volatile material prices, the cyclical nature of the market and geographic price variances. Traditionally, construction estimates have leveraged cost data from past projects and currently available prices before being adjusted for future construction, using a cushion or a rule of thumb. Today, with improved data analysis techniques such as data mining, price indexes have evolved. Watch this presentation to learn how data science, data modeling and algorithms are being used to leverage external factors for predictive construction cost insights that were previously unattainable.



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