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 February 2007
Tech News

Committee on Performance of Buildings Develops New Cost Estimate Classification

Using a new ASTM standard will improve communication among the many stakeholders that are involved in preparing, evaluating and using cost estimates for new construction projects. The standard, E 2516, Classification for Cost Estimate Classification System, was developed by Subcommittee E06.81 on Building Economics, which is part of ASTM International Committee E06 on Performance of Buildings.

According to Anthony Huxley, a consultant and E06 member, E 2516 will fill a great need in the construction industry. “Classifications are used in various forms by various organizations but not consistently on a national basis,” he says. “There is a clear need for an industry-wide standard.”E 2516 will provide a logical, consistent and objective methodology for the classification of cost estimates for a building project. This is important because details frequently change during the natural course of designing a construction job and each detail has an effect on cost. The standard will allow project team members to differentiate between each different cost estimate resulting from these changes. Each development milestone in a project requires an increasingly more detailed cost estimate. Using E 2516 will ensure that the validity of all cost estimates made along the way can be easily understood by everyone on the team.

“E 2516 provides a clear understanding and a common language that will aid communication by all members of any project team,” says Huxley. Team members who would benefit from the standard include:

• Clients, owners, government departments.
• Project managers, leaders and sponsors.
• Architects, engineers, consultants.
• Lenders, financiers, risk managers.
• Real estate planners and investors.
• Contractors and suppliers.

Subcommittee E06.81 invites all interested parties to participate in work on future revisions to E 2516. Huxley notes that the subcommittee is particularly interested in experience reports from anyone who has used the standard, as well as reports on observed accuracy rates in specific areas and industries. //

CONTACT

Technical Information: Anthony Huxley, Kemptville, Ontario, Canada
Phone: 613/258-9324

ASTM Staff: Stephen Mawn
Phone: 610/832-9726

Upcoming Meeting:
April 15-18
Norfolk, Va.
April Committee Week

 
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