Page 47: of Maritime Reporter Magazine (November 2001)

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Elliott Bay

Design Group

Architectural & Engineering Service> for the Marine Imlnstry 1 WrW V ' jfe i design, and two levels of a construction cost estimate? No, without a construc- tion cost estimate, the decisions would have been subjective and the design fea- tures of the vessel would probably not have been reviewed. Making a decision without careful analysis of the vessel and its cost would be much worse than your having made an impulse purchase of that car you discussed with your par- ents. As the project moves on to the con- tract design phase, the owner should have his or her consultants prepare a construction cost estimate. Design fea- tures can be selected or rejected based on their affect on vessel cost, as a well- developed construction cost estimate will enable the owner to change plans accordingly. As you journey from con- tract design to the bidding process, the owner will be armed with data that has the vessel cost broken down by cost group. This will help in the selection of a shipyard, because the owner can com- pare the shipyard's estimates to his own.

Large differences in the overall cost or among the cost items can be resolved before a contract is signed, and any dif- ferences in interpretation or intent can be resolved. Construction cost estimat- ing is a serious responsibility for ship- yards. They too need to understand what their commitment will be in labor, materials and services, and what their revenues will be for the project. The contents of the shipyard's construction cost estimate can be used to create a construction schedule that can be met and the owner, who has an estimate of his own. will be able to verify the ship-

About the Author: Jim Cole's career in the marine industry began in 1957. His 44 years of experience include preliminary and final design and cost estimating and control for new vessel construction, con- versions and retrofits. He has worked with every type of commercial vessel from skiffs to offshore supply vessels; fishing boats to research vessels, covering sizes between 19 and 260feet in length. yard's schedule. Owners cannot afford to lose revenues by finding out too late that their vessel will not be delivered on time. Cost overruns and change orders are things to avoid as well.

The cost estimate, like a good sketch or draft of a document, starts the plan- ning process out on the right track. If the client has paid for a well-based esti- mate, they will be able to forecast the amount of their capital commitment and can plan, schedule, and modify the design, if necessary, all in the interest of managing their money. The benefits of construction cost estimates are that they provide the client with dollar figures that are vital to the proper budgeting, planning, and tracking of projects. This applies to repair projects, as well as new construction or conversion projects. A thorough estimate provides guidance for a project in the same manner as good navigational data is needed for a safe voyage. • Full speed ahead with Capsat® Fleet 77


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Maritime Reporter

First published in 1881 Maritime Reporter is the world's largest audited circulation publication serving the global maritime industry.