Lecture Notes: Final Estimates Process by Kristen Brown

Introduction

• Presented by Kristen Brown.
• Focus on Final Estimates process in construction.
• Emphasis on keeping the explanation high-level.
• Open for questions for any in-depth details needed.

Overview

• Final Estimates: Process ensuring fair payment to contractors.
• Key Tasks:
  • Monthly Estimates
  • As-Built Plans
  • Final Estimate Process

Final Estimates

• Begins with project commencement, not at the end.
• Ensures fair payment and documentation of contractor's work.
• Critical to read and understand the contract thoroughly.

Contract Reading

• Contract details type and specifications.
• Look for modifications and special provisions.

CTQP Qualification

• Field personnel: Level 1.
• Contract support specialists: Level 2.

Procedures and Manuals

• Directions included in CPM and Review and Administration Manual.

Payment Methods

• Plan Quantity: Pre-determined by designers.
• Lump Sum: Single total payment items like mobilization.
• Final Measure: Based on actual certified quantities.

Monthly Estimates

• Dates and schedules fixed (e.g., Sundays, exceptions in June and November).
• Includes partial payments, not invoices.
• Documentation required each month:
  • Certified quantities
  • Subcontractor disbursement
  • Compliance with specs and plans
  • Actual estimate in Site Manager

As-Built Plans

• Essential for maintenance and future reference.
• Started during project, not at the end.
• Use of red and proposed orange mark-ups for changes.
• Digital As-Built plans initiated July 2015.

Final Estimate Process

• Goals to generate last partial payment.
• Aim for zero-dollar final estimate to avoid interest.
• Include offer letter with final amounts sent to contractor.
• Contractor has 90 days to submit necessary documentation.

Important Documents

• Offer letter: Only one issued.
• Includes acceptance letter and 21A form.

Post Audit Reviews (PAR)

• Optional for the district.
• Checks for any errors or discrepancies in estimates.

Key Questions Addressed

• Importance of starting final estimates at project beginning.
• The role of project administrator in monthly estimates.
• Importance of schedule of values in lump sum projects.
• Significance of pay item adjustments and price index.

Conclusion

• Final estimates ensure proper documentation and payment.
• Encourage questions and discussion for clarity.

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This lecture was part of the FDOT Construction Training Development Team's initiative to enhance understanding in construction processes.