Today s Topics. Data Overview. Materials and Locations. Industry Update Q&A The Gordian Group, Inc. All Rights Reserved.

Transcription

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2 Today s Topics Data Overview Materials and Locations Industry Update Q&A 2

3 Presenters Noam Reininger Bob Mewis Geni Medeiros Tim Duggan Chief Data Officer Gordian Director of Engineering & Production, RSMeans data Gordian Research Manager, RSMeans data Gordian Director of Analytics, RSMeans data Gordian 3

4 Introduction 4

5 Technology Investing in cloud technology Increase data and efficiency 5

6 Combining Our Data with External Datasets Data Science For example steel futures 1. Makes predictive data better 2. Enable more statistical controls for the quality and fidelity of the data we deliver to customers every day Better data and Investment in data science and AI predict future construction costs 6

7 External Datasets Merge RSMeans data with external datasets Statistical control, data quality and fidelity 7

8 Gordian s Data Organization Produces high quality, accurate and local construction cost data Research Engineering Analytics Quality Assurance & Delivery 8

9 Gordian s Data Organization Research Construction Cost Researchers who source local material, labor and equipment pricing. 9

10 Gordian s Data Organization Research Engineering Construction Cost Researchers who source local material, labor and equipment pricing. Cost Engineers with specialties in civil, mechanical, electrical, plumbing etc. 10

11 Gordian s Data Organization Research Engineering Analytics Construction Cost Researchers who source local material, labor and equipment pricing. Cost Engineers with specialties in civil, mechanical, electrical, plumbing etc. Data Scientists responsible for statistical validation of cost data and delivery of predictive models. 11

12 Gordian s Data Organization Research Engineering Analytics Quality Assurance & Delivery Construction Cost Researchers who source local material, labor and equipment pricing. Cost Engineers with specialties in civil, mechanical, electrical, plumbing etc. Data Scientists responsible for statistical validation of cost data and delivery of predictive models. Quality Assurance Engineers and Publishers ensuring data fidelity for books and digital products. 12

13 Gordian s Data Organization Research Engineering Analytics Quality Assurance & Delivery 500+ years construction experience 13

14 Construction Data Overview 14

15 Unit Cost Line Items Material Labor Equipment Productivity Unit Cost Line Item 15

16 Materials 54,000+ construction materials 16

17 Labor Collect wage rates for: Union Open Shop Residential 17

18 Equipment Add average markups: Workers compensation insurance Home office overhead Profit 18

19 Productivity How much work can be done? Collect & evaluate data Integrate into unit cost 19

20 Changes in the Data (EXAMPLE) +6 % +4 % -2 % -2 % 6 % -2 % Structural Concrete Site-Cast Concrete Reinforcement Bars Structural Panels Shutters Framing +4 % Concrete +2 % Wood +6 % Overall 20

21 RSMeans data Changes from Construction cost database contains 88,667 Unit Cost Line items 21

22 RSMeans data Changes from

23 Changes from

24 Materials and Locations 24

25 Reasons for Material Cost Changes Availability Location Time of year 25

26 Biggest Material Cost Changes 26

27 Lumber Some areas experienced a 26% increase year over year 27

28 Updating Cost Indexes 28

29 Cost Indexes City Cost Indexes (CCI) Historical Cost Indexes 29

30 Cost Indexes City Cost Indexes (CCI) Historical Cost Indexes Location factors Compare one city s costs to the national average Must be used within current year 30

31 Cost Indexes City Cost Indexes (CCI) Location factors Compare one city s costs to the national average Must be used within current year Historical Cost Indexes Construction cost indexes Relationship of a city s cost to the national average over time Shows historical cost trends 31

32 Using the Indexes Highest Change by City: 1. Richmond, VA 2. Fargo, ND 3. Elizabeth City, NC 4. Twin Falls, ID 5. Shreveport, LA 6. Sioux Falls, ND 7. Lynchburg, VA 8. Wenatchee, WA 9. Augusta, ME 10. Kittery, ME Lowest Change by City: 1. West Palm Beach, FL 2. Pine Bluff, AR 3. Tyler, TX 4. Youngstown, OH 5. Miami, FL 6. Lakeland, FL 7. McAllen, TX 8. Jackson, MS 9. Tampa, FL 10. Corpus Christi, TX 32

33 Cost Index Factors Material prices Equipment rental rates Diesel fuel costs Trade wages 33

34 Effects of Natural Disasters $ $ Open Shop Wages Union Wages Overall Project Cost 34

35 Industry Update 35

36 RSMeans data Models 100+ Square Foot Models Healthcare Education State, Local Office Commercial and Federal Buildings and Retail Government and Hotels 36

37 Model Year Over Year Comparisons Total Cost 2018 Total Cost 2017 College Classroom 1.85% increase Courthouse 2.58% increase Hotel 1.92% increase Nursing Home 2.53% increase Office 0.75% increase Retail Store 2.82% increase $0 $10 $20 $30 $40 $50 $60 $70 Total Cost in Millions 37

38 College Classroom - Assembly 38

39 College Classroom MasterFormat 95 39

40 College Classroom MasterFormat 16 40

41 Courthouse - Assembly 41

42 Courthouse MasterFormat 95 42

43 Hotels - Assembly 43

44 MF95 Component Hotels MasterFormat 95 Percent Total Change from '17 to '18 Electrical Mechanical Convey. Systems Special Const. Finishes Doors & Windows Therm. & Moist. Protection Wood & Plastics Metals Masonry Concrete Site Const. -6% -5% -4% -3% -2% -1% 0% 1% 2% 3% 4% 5% 6% 44

45 Hotels MasterFormat 16 45

46 Nursing Home Assembly 46

47 MF95 Component MF16 Component Nursing Home MasterFormat Comparisons MasterFormat 95 MasterFormat 16 Percent Total Change from '17 to '18 Percent Total Change from '17 to 18 Electrical Earthwork Mechanical Elect. Safety & Security Conveying Systems Electrical Special Const. Finishes HVAC Plumbing Fire Suppression Doors & Windows Conveying Equip. Therm. & Moist. Protection Finishes Wood & Plastics Openings Metals Masonry Concrete Therm. & Moist. Protection Wood, Plastics & Comp. Metals Masonry Site Const. Concrete -2% 3% 8% 13% -2% 0% 2% 4% 6% 8% 10% 12% 14% 16% 47

48 Office Assembly 48

49 Office MasterFormat 95 49

50 Office MasterFormat 16 50

51 Retail Assembly 51

52 Retail MasterFormat 95 52

53 Retail MasterFormat 16 53

54 Wrap up and Q&A 54

55 With additional questions, please contact Mary-Neil Jackson at 55