Gordian: Gold Standard in Cost Estimation

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Tim Duggan, Vice President of Data & Analytics, GordianTim Duggan, Vice President of Data & Analytics
For over seven decades, the construction industry has undergone a drastic makeover in regard to technologies and processes. However, there has been one constant in this rapidly changing industry—the groundbreaking solutions offered by Gordian. Gordian is a forerunner in construction cost data, software, and services for all phases of the building lifecycle. For professionals looking to budget, estimate and validate construction project costs, Gordian is helping clients deliver the highest quality results.

Gordian focuses on the location and type of projects and uses them to create from simple to complex and accurate estimates for its customers. The company offers cutting-edge products and services to organizations that build and maintain the essential facilities and infrastructure our communities rely on. “Our team of construction cost data experts has built the RSMeans database that offers up-to-date information on cost data for the planning phase and over the building lifecycle,” informs Tim Duggan, Vice President of Data and Analytics at Gordian. “Our data can broken down from conceptual square foot models to assemblies to unit line item estimates, all within the RSMeans Data Online tool.”
With decades of service across a wide array of clients, including contractors, architects, engineers, educational institution stakeholders and facility owners and managers, Gordian stands ahead of its competitors in the marketplace with its ability to produce accurate estimates that align with company vision, both present and future. In its calculations, the company empowers unit cost lines with the changing costs of material, labor and equipment required for the project estimation. “Our data is designed to be broad in scope—we use standard construction means and methods and compile it with the construction costs as well localization of cost influences to provide the most accurate data,” explains Duggan. The company’s data also proves beneficial in renovating buildings while accounting for the historical cost and understanding problems faced in the past to cut down on future expenses.

Gordian provides data and assists in creating estimates for clients in both the government and private sectors. Predictive Cost Data, included in RSMeans Data Online Complete Plus, has been a game-changer for the industry, utilizing statistically-developed algorithms that consider external primary data and anticipate future costs. “We follow a statistical and analytical process of indexing materials to external sources to track how prices had changed in the past, and its effect on our cost basis,” explains Duggan.

The company caters to customers across North America and maintains minute records of the cost of each component in the construction process by location. In addition, it tracks fluctuations in prices across the region on a quarterly basis to estimate prices for the next three years. As a result, the comparison of estimate data with the actual cost of construction shows minor differences, if any.

The accuracy of estimates stems from Gordian’s perseverance to innovate and remain updated with trends in materials in the construction market. Gordian’s team understands the utility of new products and replaces older materials to provide its clients with cost-effective estimates for long-lasting solutions. The company uses Life Cycle Costing analysis in identifying associated cost expectations based on manufacturers suggested maintenance and repair and replacement data.

Gordian is fortifying its services with Artificial Intelligence and Machine Learning to automate manual data entry and estimation processes along with leveraging Natural Language Processing for data reconciliation. While guiding clients through the process of building an estimate, the company’s meticulously maintained records are delivered through its online platform, RSMeans Data Online. Gordian’s data engineering and research team works hand-in-hand with the analytics and quality assurance division to monitor customer inquiries and respond to specific situations and enhance the data provided to meet client needs as they evolve.

Gordian is continually improving its online tool in accordance with customer feedback to simplify the estimation process for clients. The company looks forward to integrating data with other industry providers and delivering better solutions for material and cost estimation.
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