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Estimating Facility Life-cycle Costs

Job Order Contracting

Estimating Facility Life-cycle Costs is a critical aspect of facilities management. Key elements associated with Estimating Facility Life-cycle Costs include the following: Experience. Systems costs and systems life-cycles. Use of common, easily understood industry terms and definitions.

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Credible Construction Estimate Core Elements

Job Order Contracting

A credible construction cost estimate is required prior to engaging in procurement. The follow elements are common to a credible construction cost estimate. Credible Cost Estimate Core Elements #1 Objectivity – The information used and those invovled in the creation of the construction cost estimate must be objective.

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Digital Twin – Aligning the physical and functional status of buildings and other physical objects with a corresponding digital model makes it possible to monitor and optimally manage capital reinvestment throughout their life-cycle.

Job Order Contracting

Aligning the physical and functional status of buildings and other physical objects with a corresponding digital model makes it possible to monitor and optimally manage capital reinvestment throughout their life-cycle. Requisite Components of a Physical Asset Life-cycle Management Solution. appeared first on 4BT.

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Construction Cost Estimating 2020 and Beyond – Must Reading for Owners

Job Order Contracting

Construction cost estimating is critical to the success of any repair, renovation, maintenance, or new build, and the consistent achievement of best value outcomes. Levels of Construction Cost Estimates. The are many levels of construction cost estimates based upon a “project” life-cycle.

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Lean Asset Management

Job Order Contracting

Lean Asset Management significant improve the availability, dependability, usefulness, safety of facilities and other physical assets, while also lowering life-cycle costs. Lean Asset Management differs from traditional approaches in several ways.

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Best Value Facilities Repair, Renovation Work Order Delivery

Job Order Contracting

Create a shared scope of work using a a detailed line item construction cost estimate using locally researched cost data. An industry standard set of terms and definitions, written in plain English, supported by a database of locally researched detailed line item cost information assures accurate technical and cost work scope definition.

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LEAN Construction Project Delivery and Facilities Operations, Maintenance, and Life-cycle Management

Job Order Contracting

Common terms, definitions, & data formats — Common data environment (CDE). Cost estimating. Life-cycle Management. COBie is an information exchange specification for the life-cycle capture and delivery of information needed by facility managers. Shared, performance-based risk/reward. Strategic planning.