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Conventional wisdom says that construction material prices increase slightly year-over-year. The thinking goes that, as long as supply chains aren’t interrupted, material prices will roughly match the rise of cost-of-living and inflation rates.
Just 10 minutes south of the Kennedy Space Center in Merritt Island, Florida, stands a sandy-colored building with oak trees in its parking lot that serves as office of Nelson Engineering Co.
It’s clear that construction costs more in 2021 than it did in 2020. And if you’re using outdated construction costs for your estimates, even costs from a few months ago, you could end up with overruns in budgets that are already airtight. See how our RSMeans data is keeping pace with the industry.
Creating a construction cost estimate can be quite a puzzle. From scoping to quantity takeoff to cost estimating- to produce a thorough, accurate estimate that stays within the project’s budget and timeline. Check out this eBook to learn more.
Construction cost overruns are serious risks that can send ripples throughout an organization’s budgets and operations. Learn more about how to minimize these with accurate data.
Design work is tricky from a time perspective. Architects and design professionals create drawings and conceptual designs in the present and the structures are built in the future.
Architects, engineers and other design professionals juggle several coexisting responsibilities and desires. They want to design and build great, innovative facilities. They want to create reputations for doing thorough, efficient work. Most importantly, they want to maximize their available budget. But how?
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