| Financial analysis: |  |
| Environmental impact analysis: | --- |
| Waste management/P2: | |
| Environmental cost listing/database: | --- |
| Cost estimation: | --- |
| Alternative product/process comparison: | --- |
| Financial analysis: | |
| Environmental impact analysis: | --- |
| Waste management/P2: | |
| Environmental cost listing/database: | --- |
| Cost estimation: | --- |
| Alternative product/process comparison: | --- |
| Cost control | |
| Resource control | |
| Estimating control | |
| Schedule control | --- |
| Scope control | |
| Risk control | --- |
Features of Precision Estimating Plus and Extended include the following:
A custom report writer is available among additional software. Default waste percentages can be assigned to each item.
The system is designed for use in the construction industry, and the databases available through Timberline provide conventional cost information in this area. However, even construction projects have environmental components including various regulatory requirements, contingent, and less-tangible costs. This type of information should begin to be included in databases providing information on construction costs.
| Raw material acquisition | --- |
| Manufacturing stage | |
| Use/reuse/maintenance | --- |
| Recycle/waste management | --- |
The system is not designed to consider more than one life-cycle stage, which would typically be the manufacturing stage of the life cycle. Users may be able to incorporate information from other life-cycle stages, but this information may have to be grouped with other information due to the limitations in defining WBS structures (up to 3 levels). However, WBS codes in Precision Extended could be used to generate reports detailing information on distinct life-cycle stages. The package can support unlimited projects and activities. This could be a way to incorporate life-cycle information. Separate projects dealing with distinct life-cycle stages could also be created.
| Conventional | |
| Potentially hidden | --- |
| Contingent | --- |
| External | --- |
The databases provided by the company do not provide users with information on anything other than usual costs. However, users can build their own database, or modify those provided through Timberline. Thus, they may be able to add information on certain types of environmental costs in the database.
Users can directly enter cost data into the estimate and attach explanations in notes. Users may be able to incorporate environmental cost information derived from other sources, but they cannot define any new cost categories. Precision provides information only on five conventional cost categories including labor, material, equipment, subcontractor, and other. Conventional environmental and some upfront hidden costs could be included among these categories or detailed among the 99 user-defined subcategories. For example, a subcategory could be created for waste management equipment. The"other" category could be used to detail a particular type of environmental cost, such as potentially hidden costs. However, it is more likely that users would have other, more conventional uses for this. The system can support an unlimited number of estimates. Therefore, a better way would be to incorporate environmental costs estimated by users through more thorough activity(or item) breakdowns. Although reporting is a hidden cost, it can be entered as an item that has labor and other costs (fees) associated with it. The modeling capability in Precision Extended could be applied for estimating some environmental costs for which relationship models can be developed (using conventional parameters). For example, cost of waste management can be linked to plant size. User-defined markups could also be used to model the effects of project cost increases as a result of environmental costs, such as contingent costs. Cost data and estimating methods would need to be developed by users.
Estimates can be built and summarized on a spreadsheet screen. The system uses unit cost estimating, and Precision Extended adds some parametric estimation capabilities. Precision has logic, trigonometric, and yes/no formulas. All Precision core products come with a working database, and users have the option of obtaining additional databases for various construction specialties through Timberline. With any of these, unit cost items, crews, productivity, and other data are automatically pulled into Precision's on-screen spreadsheet as users do takeoffs.
| Net present value (NPV) | --- |
| Payback period | --- |
| Internal rate of return (IRR) | --- |
| Benefits cost ratio | --- |
| Other | --- |
The system has a series of internal mathematical functions but has no financial functions. However, it may be possible to export data to a spreadsheet that has financial functions.
The system is menu driven and uses an interface developed by Timberline itself. They are planning on introducing a Windows version in the future. The system is compatible with other databases, such as R.S. Means. A software called Timberline Bridge, along with other options such as the Microsoft Project and Primavera integrators, provide the capability for interfacing with Lotus, WordPerfect, MS Project, Primavera scheduling software, AutoCAD, and others. Timberline also offers a Precision digitizer.
The program can support unlimited projects and unlimited activities within projects. There is also no limit on the number of items, divisions, subdivisions, subcontractors, etc. The program is menu-driven and features on-screen help messages.
Timberline offers users a free "Total Care" plan for a year, which includes product maintenance, all updates, and toll-free user support. They also offer training (~$1,400 - 1,500) in various locations in the country. Other user support includes regional meetings, conferences, newsletters, and consulting services. Demonstration disks (slide-show) of program features are available. No working or interactive demonstration disks are provided.
The system has a pre-defined fixed number of cost categories (e.g., labor, equipment), and users cannot define any others. The WBS tree can have a maximum of three levels. The system has no mouse support. Although users can include information on other costs as well (unlimited activities within projects), they cannot define these as separate cost categories.
The system has not been designed for life-cycle costing or for including all cost categories. The databases currently provided by Timberline do not include information on environmental costs. They do not give cost information on waste management, repair/maintenance, etc., either. Users would need to independently develop estimating methods and cost data for including environmental cost information in projects.
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