Session 6 of 8
Tool: Independent Cost Estimator
24 CM-GC
NCHRP Research Report 939 presents practical guidance for the post-award administration of projects delivered using alternative, nontraditional methods.
Tool: Independent Cost Estimator (24 CM-GC)
Session 6 of 8: October 27, 2022
What is it?
- Consultant hired by the agency to prepare a production-based cost estimate to compare to the CM-GC estimate
Why use it?
- Verify that the CM-GC estimate is competitive
- Discover discrepancies in the estimating assumptions
How to use it?
- ICE participates in review meetings for the cost model, risk management, and cost estimate
- Discuss construction means and methods assumptions and quantities
- The agency compares the ICE estimate to the CM-GC estimate and uses that information to negotiate an agreed-upon price with the CM-GC
Documents
NCHRP ACM Contract Admin – Session 6 Slides