The Cost Estimating Guide (Guide) sets out a consistent framework for estimating project costs at the conceptual level. Project proponents are encouraged to use the Guide when preparing cost estimates for Measure C or J funded projects. Sound financial programming requires consistent and reasonable cost estimates. Accurate cost estimates help project proponents establish reliable funding plans for their projects and allow the Authority to program sufficient funding to deliver the projects.
The Guide no longer contains specific unit prices for typical project bid items but still provides "rule of thumb" percentages to use for estimating a variety of other project elements. Global and domestic markets are more unpredictable than ever - as evidenced by the very high escalation in construction costs in the 2003 - 2007 period, and notable drops in construction costs more recently. There are many resources available to assist in determining appropriate unit costs when developing cost estimates. A list of some of these resources is provided at the end of this Guide. It is expected that project proponents will use up-to-date cost data from one of the listed sources, or from another credible source, in developing their project cost estimates.
With the elimination of published unit prices, the accompanying spreadsheet template has also been modified. The "rule of thumb" allowances are still provided in the spreadsheet an can be modified if appropriate.