10 further issues in estimating

Question 1

What should be included in the contractors estimation to their senior management in order for them to convert to a tender bid?

Answer 1

1 project description 
2 general method statement 
3 risks not covered by BoQ
4 unresolved contractual issues
5 financial consequences of the design process
6 assumptions used for direct cost estimates
7 profitability 
8 market + industrial conditions 
9 direct costs, broken down 
10 BoQ with direct costs

Question 2

What must senior management uplift the estimate to account for?

Answer 2

1 risk
2 overheads
3 profit

Question 3

example of a project where the design change led to it being massively over budget?

Answer 3

Senedd, welsh parliament- arguments between contractor and principle meant construction stop for 2 years, and final project nearly 6 times over budget and over 4 years late