Converting 2003 construction costs to 2013
Converting 2003 construction costs to 2013
(OP)
Hello,
I am working on an prelim. engg. estimate to find construction costs associated with relief drain tunnels. This drain is going to be 6 miles long, 36' in diameter and probably 50-100 feet deep.
In my research I found similar utility tunnel projects and the costs associated with them. My questions is " What is the best way to estimate construction costs to present day dollars.
Is inflation adjustment the way to go? I have found out about ENR Index, but do not know much about in terms of how to convert the construction costs to present day dollars?
I know there will be lot of other factors that determine the cost and no one project is going to cost the same, but I would just like to get a very rough idea. Can anyone help?
One example:
For a similar tunnel job built in 2003, the construction costs are 506 million. How much would it cost in 2012 or 2013?
I have come across this website....http://www.usinflationcalculator.com. Is this the right way to account for inflation for construction jobs of this magnitude?
Thanks in advance.
I am working on an prelim. engg. estimate to find construction costs associated with relief drain tunnels. This drain is going to be 6 miles long, 36' in diameter and probably 50-100 feet deep.
In my research I found similar utility tunnel projects and the costs associated with them. My questions is " What is the best way to estimate construction costs to present day dollars.
Is inflation adjustment the way to go? I have found out about ENR Index, but do not know much about in terms of how to convert the construction costs to present day dollars?
I know there will be lot of other factors that determine the cost and no one project is going to cost the same, but I would just like to get a very rough idea. Can anyone help?
One example:
For a similar tunnel job built in 2003, the construction costs are 506 million. How much would it cost in 2012 or 2013?
I have come across this website....http://www.usinflationcalculator.com. Is this the right way to account for inflation for construction jobs of this magnitude?
Thanks in advance.





RE: Converting 2003 construction costs to 2013
RE: Converting 2003 construction costs to 2013
If you can find an RS Means book, it will give you a factor that you can apply to current costs that will take you back to 2003...so you can figure how to reverse that to get your current number....as an example, if the 2012 cost is "X" and the 2003 factor is 0.67X, then multiply your 2003 value by 1.5 and you will have your answer. Please note this is just an example...the actual factors are probably quite a bit different than this but this was an easy example.
RE: Converting 2003 construction costs to 2013
However, with tunneling - poor ground conditions could easily double or triple that cost. If you don't believe it, look at the cost overruns for the Big Dig. Do you really want to lowball your cost estimate by $1.4 Billion dollars?
you need to get a tunneling contractor on board to give you a real estimate.
RE: Converting 2003 construction costs to 2013
CVG, Can I ask how you calculated the ENR adujustment (1.38 in this case)? I could not find it on ENR website.
RE: Converting 2003 construction costs to 2013
http://enr.construction.com/economics/current_cost...
RE: Converting 2003 construction costs to 2013