I had a discussion with Jason Spilak this morning regarding methodology for determining unit prices for our engineers estimates at Phase III, IV and Final submittals. He recommended that we use Transport history (for Market areas) between March 1, 2005 and November 30, 2005 in order to determine an appropriate weighted average unit price. If certain pay items are not found within this timeframe, look at the range of dates for the previous six months (September 1, 2004-February 28, 2005). With the rapid rise of construction bid prices, it is important to base our estimates on these specific, recent periods rather than reviewing data that may span two years or more.
For LRE-based estimates, Jason said he is generally confident in the data the system is using and recommended we not make unit prices adjustments (from the Market Area selection) unless there is a good reason (unique design, project specific issues, etc.).
- Joseph P. Hitterman, P.E.
Senior Group Manager
PBS&J