Level: Basic
TCM Section(s)
0.0. General Reference
7.3. Cost Estimating and Budgeting
Venue: 2024 AACE International Conference & Expo
Abstract: This paper follows the evolution of project cost estimating from the 1950s, to today’s current technological advancements. More specifically, it focuses on developments that have shifted the cost estimating process from manual calculations by solo practitioners to the complex, computer-aided analyses performed by estimators, often in teams, whose firms employ the latest and greatest technological advances. Today’s professionals analyze the types of production, evaluate the estimating-related issues, apply appropriate techniques, and try new innovations. Among such innovations, this paper will discuss cost estimating tools such as BIM, artificial intelligence, and drone video usage. Other challenges here considered include the employment of sustainable net-zero estimating and the costs of carbon capture and mitigation.
TCM Section(s)
0.0. General Reference
7.3. Cost Estimating and Budgeting
Venue: 2024 AACE International Conference & Expo
Abstract: This paper follows the evolution of project cost estimating from the 1950s, to today’s current technological advancements. More specifically, it focuses on developments that have shifted the cost estimating process from manual calculations by solo practitioners to the complex, computer-aided analyses performed by estimators, often in teams, whose firms employ the latest and greatest technological advances. Today’s professionals analyze the types of production, evaluate the estimating-related issues, apply appropriate techniques, and try new innovations. Among such innovations, this paper will discuss cost estimating tools such as BIM, artificial intelligence, and drone video usage. Other challenges here considered include the employment of sustainable net-zero estimating and the costs of carbon capture and mitigation.