Osmundson and Associates Cost Consultants, Inc. has a proud history of providing construction cost engineering and consulting services to architecture & engineering firms, federal, state, and local government agencies, universities, and major corporations for over 20 years. Using our vast experience in civic, military, and educational projects, we are able to deliver accurate and timely budgets and estimates at all stages of project design. From early budget estimates, through concept design and final construction plans, Osmundson and Associates is able to provide a wide scope of cost estimating services for projects of every size.
We apply a time-tested cost engineering methodology to our projects, allowing us to accurately predict construction costs, even with limited design information. Our methodology includes several facets (detailed below) that allow us interpret data about material costs, labor productivity through the lens of our knowledge of construction operations and our familiarity with various market conditions.
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Construction Cost Benchmarking
Benchmarking is the use of relevant data to guide or confirm early building design decisions. Osmundson and Associates Cost Consultants use highly respected sources for labor and material cost metrics, selecting data appropriate to the specific project type and conditions.
Materials data: for materials we use the RS Means “Master Union” database which is updated annually, local pricing, vendor quotes, as well as the Corps of Engineers’ database when applicable.
Labor data: for labor, our firm uses the Davis Bacon published rates and the RS Means “Labor Rates for the Construction Industry” publication. These publications provide current union rates for all the wage classifications used in RS Means or the Corps’ database at specific locations. The U.S. Bureau of Labor Statistics is used for current payroll, tax, and insurance rates.
Market Condition Analysis
We don’t simply stop with standard benchmark data. Our estimates adjust rates to accommodate local labor market conditions as well as current overall economic factors. Market condition adjustments are derived from data provided in the Engineering News-Record and supported by our expert judgment and experience. In addition, we consult with cost engineers at Army or Navy cost engineering organizations engaged at installations where specific projects are proposed. With this local knowledge, we can better predict the effect on local labor markets from large construction programs or other local economic factors.
Trend Analysis
Market conditions can change over the course of a project, significantly affecting overall costs. To anticipate the impact of these changes, we closely follow the weekly Construction Economics reports in Engineering News-Record. With this information, we are able to judge current trends and rates of escalation in building and construction projects, and maintain the most up-to-date material prices on construction-related commodities such as steel, concrete, asphalt, and timber.
Custom Quotes
Some material costs are too complex or unusual to determine using standard cost data. In these cases, Osmundson and Associates consults with vendors to obtain quotes for large volumes of materials, or materials where cost is heavily affected by local markets (such as borrowed fill, crushed stone, and concrete). In addition, we will go the extra mile to confirm costs for a wide range of materials not covered in standard databases; for example, statues, custom balcony railings, prefab/precast hazardous materials storage buildings, and tempest shielding for the entire exterior closure of a 5-Story 160,000 SF Naval Systems Management Agency project.
Historical Analysis
To confirm the accuracy of our estimates, we compare the unit cost of each building system within the work breakdown structure against similar projects within our extensive portfolio. In addition, we also use the Tri-Services Historical Analysis data for comparison, as appropriate.
Expert Oversight and Judgment
Every estimate that leaves our office is personally prepared and reviewed by both principals, each with 15+ years of experience. Their expert judgment is supported by detailed takeoffs and analysis from our staff of engineers and cost consultants.
Professional Partnership
Throughout the estimation process, our team maintains close contact with the designer, for additional clarification and information to support accurate cost estimates. In addition, our cost consultants share any findings of discrepancies or omissions in the design documents, as well as opportunities for value engineering. Each cost estimate report is individually prepared in partnership with the Architect Engineer to ensure the template is organized to the client’s specifications and that bid alternates are estimated separately, as needed.