Exemplary Steps A general reference for estimating with Oman BidTabs Professional Division of...

Exemplary Steps Exemplary Steps

A general reference for estimating with Oman BidTabs Professional

Division of Project Management

Indiana Department of Transportation

The estimate example project is a new

bridge on SR 25 in Cass County (IR30845).

The project was let in August 2011.

• Maintain Data Relevancy

• Regular Data Verification

Two Guiding Principles

Data Relevancy

•Quantity Based Pay ItemsFactors to consider: geographic location, time, quantities, project type

•Lump Sum ItemsFactors to consider: geographic location, time, project size and type

Data Verification

One effective way to verify estimates and refine running sequence is to verify the estimate against actual let price.

Only through data verification, an estimate can establish it true meaning in real world.

In general, for this example we use the following practice to maintain data relevancy.

We start with narrower, more project specific and more stringent criteria.

For example, we start our price search in LaPorte District, the lowest three bidders, 12-month window. Define project type with project prefix.

Then we broaden the search criteria for any items which we can’t find valid data in previous steps.

For example, we expand our search from LaPorte district to statewide in step 2, and expand time window from 12-month in step 1 and 2 to 36-month in step 3. Also, we bring in bid data from all bidders instead of the lowest 3 bidder.

Step 1

•Batch search (use “Load All-state average”)

•Use data from the lowest three bidders

•Set district (LaPorte )

•Use 12-month window

•Use prefix to define relevant project type

Step 2

•Batch search (use “Load All-state average”)

•Use data from the lowest three bidders

•Use Statewide data (all price)

•Use 12-month window

•Use prefix to define relevant project type

Step 3

•Batch search (use “Load All-state average”)

•Use data from all bidders

•Use Statewide data (all price)

•Use 24-month or 36-month window

•Uncheck prefix to include all types of projects

Estimate Compilation from Comparisons:

Step 4a

•Individual pay item search (for any items, which we can’t find valid data with batch search)

•Use “Load one PI-state average”

Step 4b (another option)

•Individual pay item search

•Use “Load one PI-non standard”

Some addition factors to consider

•High percentage pay items

•Regional pricing, e.g. Lake, Marion etc

•Corridor projects

•Unique pay items (no historic data)

Other capabilities of Oman software

•Specific pay item search

•Letting report

•Market analysis

•Contractor analysis

•Customized search

Web link to INDOT Cost Estimating and Cost Management Program web site:

www.costestimating.indot.in.gov

More information will be updated as

the cost estimating program grows.