Looking Ahead: Predictive Costs for Federal Construction

Looking Ahead: Predictive Costs for Federal Construction

Federal owners have long faced challenges with accurately estimating projects, relying on contractors and estimators to predict the cost of work multiple months or years in the future. That is where predictive cost data can help.

Predictive cost data takes advantage of advances in machine learning, data mining and parametric modeling to enable Contracting Officers to prepare a detailed estimate for projects up to three years in the future with a high degree of accuracy, independent of contractor provided data.

With this emerging technology, Federal owners no longer need to plan tomorrow’s projects with yesterday’s data.

Download this whitepaper to learn:

  • Why traditional estimating methods regularly contribute to inaccurate construction budgets.
  • How predictive cost data will change the future of estimating, value engineering and capital planning.
  • How predictive cost data can generate the programmed amount for construction costs more than three years in the future within 3% percent of real market conditions.
  • When to leverage predictive cost data to provide defensible budgets.