1.1 This practice covers a procedure for measuring cost risk for buildings and building systems and other constructed projects, using the Monte Carlo simulation technique as described in Guide E1369.
1.2 A computer program is required for the Monte Carlo simulation. This can be one of the commercially available software programs for cost risk analysis, or one constructed by the user.
1.3 This standard does not purport to address all of the safety concerns, if any, associated with its use. It is the responsibility of the user of this standard to establish appropriate safety, health, and environmental practices and determine the applicability of regulatory limitations prior to use.
1.4 This international standard was developed in accordance with internationally recognized principles on standardization established in the Decision on Principles for the Development of International Standards, Guides and Recommendations issued by the World Trade Organization Technical Barriers to Trade (TBT) Committee.
ASTM E1946-18 Referenced Document
ASTM E1369 Standard Guide for Selecting Techniques for Treating Uncertainty and Risk in the Economic Evaluation of Buildings and Building Systems
ASTM E1557 Standard Classification for Building Elements and Related Sitework-UNIFORMAT II
ASTM E2083 Standard Classification for Building Construction Field Requirements, and Office Overhead & Profit*, 2024-04-21 Update
ASTM E2103/E2103M Standard Classification for Bridge Elements—UNIFORMAT II*, 2019-07-01 Update
ASTM E2168 Standard Classification for Allowance, Contingency, and Reserve Sums in Building Construction Estimating*, 2023-05-01 Update
ASTM E2514 Standard Practice for Presentation Format of Elemental Cost Estimates, Summaries, and Analyses*, 2020-12-01 Update
ASTM E631 Standard Terminology of Building Constructions
ASTM E833 Standard Terminology of Building Economics*, 2024-04-21 Update
ASTM E1946-18 history
2023ASTM E1946-18(2023) Standard Practice for Measuring Cost Risk of Buildings and Building Systems and Other Constructed Projects
2018ASTM E1946-18 Standard Practice for Measuring Cost Risk of Buildings and Building Systems and Other Constructed Projects
2012ASTM E1946-12 Standard Practice for Measuring Cost Risk of Buildings and Building Systems and Other Constructed Projects
2007ASTM E1946-07 Standard Practice for Measuring Cost Risk of Buildings and Building Systems
2002ASTM E1946-02 Standard Practice for Measuring Cost Risk of Buildings and Building Systems
1998ASTM E1946-98 Standard Practice for Measuring Cost Risk of Buildings and Building Systems