Kykloud and RSMeans Integration: The Perfect Partnership
Costing changes can affect capital projects in unexpected and abrupt ways. Take, for example, the most recent batch of tariffs that affected the US steel market earlier this year. In the matter of a few months, prices for hot-rolled steel almost doubled. This jump immediately impacted construction budgets and projected spending on capital plans.
With that amount of potential volatility, keeping track of day-to-day costs can be a serious challenge. While economic policy events at that level are outside the norm, it is typical for material and labor costs to vary over time and from region to region. There are costing solutions that provide updated market data to increase project cost estimation accuracy. One such solution is RSMeans.
Costing Estimations with RSMeans
RSMeans is a cost book which covers repair, replace and maintain activities for new and existing buildings. It is regularly updated and contains costs for parts and labor to support detailed estimation. It has a 70-year pedigree and is a major national standard for costing elements in the US and Canada. RSMeans data is used by construction professionals to create budgets, estimate projects, validate cost data, and plan for ongoing facilities maintenance. It is also used to provide standardized costing for assessment projects.
Kykloud, Accruent’s Mobile Building Assessment solution, now uses RSMeans to provide costing data for elements included in an assessment. Whether at unit costs for a brick, to assembly costs of a brick wall, to a sq. ft model for a 7-story brick building, RSMeans drives costs through an assessment into a capital plan. This new functionality delivers more accurate and granular costing data that is localized to the region. It can also open up new revenue streams for assessment firms by providing replacement cost estimations for surveyed sites and assets.
Costing Moves into the Digital Age
For years, costing data was accessed through phone-book sized sets of catalogs with comprehensive details on costs of materials and systems associated with facilities construction projects. These books are often outdated by the time they are printed and have to be replaced yearly to stay as up to date as possible. As a result, most construction managers have had to use custom, internal cost books or outdated data sets.
With RSMeans Online now available, costing data has moved into the digital age with more granular data and more frequent updates — all seamlessly available to keep accurate cost data within reach. With RSMeans cost data now integrated into Kykloud, Accruent delivers the perfect partnership for driving construction costs through your capital plan.
Accuracy that Spans Multiple Regions
A project manager that is very adept at cost estimations in California may find themselves woefully unprepared for similar work in New England. This is because constructions costs, the price of materials, and labor rates can vary depending on locality and region. With a tool like RSMeans, that same project manager can be just as accurate in any region or market they cover, enabling assessors to estimate in greater detail and validate unfamiliar costs—unlocking new growth potential in previously inaccessible territory.
New Potential for Expansion
Before RSMeans availability, an assessment firm that specialized in ADA compliance could be well versed at citing regulation deficiencies, but might lack the expertise and tribal knowledge to confidently forecast remediation plans and costs in every territory they work. With Kykloud and RSMeans, they can accurately estimate not only material costs, but labor and equipment costs as well — providing a holistic budget forecast. More importantly, this enhanced offering could potentially open the door to new revenue streams for the assessment firm, better utilizing the data that is already being collected for the job.
Using Kykloud with RSMeans provides validation and accuracy to cost data no matter where your job site takes you. For more information, contact us.