A01ulhaq3 Construction Cost Analysis1

University of Illinois Urbana Champaign Department of Civil and Environmental Engineering CEE 422 Construction Cost Analysis Assignment Fall 2023 Assignment # 1 – Solution Page | 3 Q 2) Exercise 2 (3 points) You are doing a rough cost estimate for a warehouse. The estimated gross area of the warehouse is 210,000 sf. You have historical cost data from similar previous projects (shown below). Based on these data, what is your estimate for this warehouse? State which estimating method you have used. Project Total Project Cost Size (sf) 1 $46,478,500 223000 2 $13,609,300 96500 3 $23,087,100 100960 4 $12,107,360 65500 5 $38,645,500 176000 6 $31,266,510 193000 Solution : - Project Total Project Cost Size (sf) Cost Per Square ft 1 $46,478,500 223000 $ 208.42 2 $13,609,300 96500 $ 141.03 Smallest Unit Cost 3 $23,087,100 100960 $ 228.68 Largest Unit Cost 4 $12,107,360 65500 $ 184.85 5 $38,645,500 176000 $ 219.58 6 $31,266,510 193000 $ 162.00 Formula: - UC = 𝑨+𝟒𝑩+𝑪 𝟔 UC = forecast unit cost of proposed project A = minimum unit cost of previous projects B = average unit cost of previous projects C = maximum unit cost of previous projects Average: - ∑ (Unit Cost)/total no of Projects 1144.56 = 6 = 190.7 UC = 𝟏𝟒𝟏.𝟎𝟑+𝟒(𝟏𝟗𝟎.𝟕𝟔)+𝟐𝟐𝟖.𝟔𝟖 𝟔 UC = 188.8