Question

An engineering project manager is preparing a preliminary cost estimate for a design and construction wants to use the ENR construction cost index to update the cost. If the index value in 2014 in 9,417, estimate the cost of construction for a similar-size project in 2014 Do NOT (ype the dollar sign $') or any commas .) in your answer Round to two decimals (money maage s prepa ng a preimn y cost estimate for a design and construct pr oct. Ho had completed a sní" project i 200 with a comte tio o st m 。 nd

Answer 1

Solution:

Given

construction cost in 2003 = 33375000

index value of 2014 = 9417

The cost of construction for similar project in 2014 is calculated as follows

Cost 2014 = Cost in 2003 x ( Current index value $\div$ value of index in 2003 )

Cost 2014 = $ 33375000 x ( 9417  $\div$ 6695)

from table we get index value in 2003 is = 6695

Cost 2014 =46.94 million

The cost of construction for a similar project in 2014 = $ 46.94 million.