Basis of Estimate Presentation to Client: It is Not Just Numbers

Abstract:

Presentation Topic: 

Abstract: Presenting the total estimated costs involves more than just the final bottom-line numbers in the project's estimated summary and details. Stakeholders require a complete understanding of all the implications of project costs for both risks and opportunities. These include the scope, assumptions, exceptions, cost basis, engineering basis, and any reconciliations with prior estimates that explain the buildup of costs. A succinct, comprehensive basis of estimate will address and document the facts, figures, potential concerns, and unforeseen challenges that any project will experience regarding cost.

The basis of estimate (BOE) document is the key component of the project estimate, and it is impossible to present a project cost estimate without it. This paper will discuss compilation and delivery of a project cost estimate based upon AACE Recommended Practice 34R-05, Basis of Estimate. Items in the BOE include project scope, execution plan, methodology, risk analysis, reconciliation, and required deliverables, all supported with documentation. Using this recommended practice (RP) as a guide helps estimators create complete estimating packages tailored to their specific projects, including the all-important documentation that is the foundation of a successful BOE presentation to the client.

Speaker:

           Hetali Doshi
           Cost Estimator
           RIB U.S. Cost

Hetali Doshi is an experienced cost estimator with a strong track record representing owners in Florida's dynamic construction market. With an educational background in construction, Ms. Doshi employs a strategic and detail-oriented approach to cost analysis, budgeting, and project evaluation. Throughout her hands-on experience, she has collaborated with leading firms to provide accurate, data-driven insights that empower owners to make informed financial decisions at every stage of construction.

Specializing in high-impact commercial, residential, and infrastructure projects, including transportation and aviation, Ms. Doshi profoundly understands regional market trends, pricing strategies, and risk assessment. Renowned for her collaborative mindset and commitment to transparency, she has become a trusted advisor to clients navigating complex builds in one of the country's most competitive construction environments. Whether contributing to early design estimates or supporting negotiations and change order reviews, Ms. Doshi consistently delivers value through precision and perception.
In addition to her professional practice, Ms. Doshi has contributed to industry thought leadership by volunteering with the AACE North Florida local section of AACE International. Her first published paper for AACE International was a presentation on the “Evolution of Cost Estimating from the 1950s to now. " This research demonstrates a keen passion and curiosity in how technology, methodology, and new market trends continue to shape the role of estimators in the modern construction industry.

Click here to RSVP before the end of business day Wednesday, 07MAY25.

Please register by Wednesday, 05/07/2025; an invitation, including the Webinar link, will be e-mailed to you. For AACE members who hold professional certifications, Webinar attendance counts toward renewal points as long as online attendance for the entire presentation is verified.