Modelogix

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Conceptual Estimating & Cost Modeling

Modelogix allows organizations to truly leverage a project cost history. Modelogix cost-modeling tool allows for conceptual estimates to be produced quickly and easily from completed projects.

Data can be imported using any number of interfaces including Excel.  Modelogix allows for an unlimited number of coding structures so that data can be organized in a way that matches each particular project.

Recorded Webinar:

Modelogix: Conceptual Estimating for Construction Owners

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  • Features

  • Benefits

Leverage Historical Data
  • Modelogix lets your organization learn from past projects.
  • Use the historical record of completed projects to make better estimates on future projects.
  • Import data quickly and easily using Excel templates
Organize and Prepare Data
  • Flexible coding structures allow data to be organized in multiple dimensions.
  • Use Smart Categories to search and find similar projects in your project archive to find the right mix of projects for your new conceptual estimate.
  • Normalize your data over time and location using cost indices
  • Get instant access to all relevant supporting documents
Create Conceptual Estimates
  • Create conceptual estimates from historical data
  • Use parametric estimating techniques when there is little or no scope definition
Analyze
  • View and compare your cost model side-by-side with the project estimates that formed the basis of the model
  • Slice and Dice your data to gain insights into your project plan
  • Modelogix can help you find hidden risks in your estimates
  • Analyze Total Cost by Labor, Material or other metrics
  • Review bids from your contractors and compare them against each other – and your historical record to find hidden savings

Present and Document

  • Produce reports and presentations that outline the details of the conceptual estimate, creating transparency throughout the process
  • Collaborate and review estimates throughout your organization

Conceptual Estimates

Formulating a conceptual estimate before all the details are known can be both a science and an art. The accuracy of the conceptual estimate, however often dictates whether a project is approved or denied. Modelogix enables owners to leverage their historical construction database and project experience to generate viable, reliable capital budgets and accurate cost models for current and future projects.


Budget Development

During initial budget development, owners can search their company’s entire estimate and cost history for work of similar type and scope. Modelogix’s Inflationary Price Index feature can then adjust costs to the specific date and location of the project at hand. Modelogix’s budget proposals not only provide powerful drill-down capabilities, they can also include projects used in the development of the cost model. 


Bid Analysis

Once bids are received, owners can compare and benchmark them easily and identify omissions and deviations that previously would have gone unnoticed. Owners can compare bids against past projects as well as all bidders, enabling the project team to explore (or address) why some bids may be out of normal range and determine if the project scope is clearly defined.


Completion Costs

With conceptual estimates based on real data (adjusted for inflation and location), and the trust that the bids received reflect the project scope, the final project cost can be determined with accuracy and confidence. Decisions can then be made as to how the project will proceed based on a viable and reliable cost model.