Q: The construction cost for a building in 1999 was $2,000,000. if the ENR const
ID: 1203714 • Letter: Q
Question
Q: The construction cost for a building in 1999 was $2,000,000. if the ENR construction cost index was 6059 at that time and is 6950 today, then what is cost of construction a similar building?
kindly draw figure where necessary, need its solution please. its engineering economics.
The construction cost for a building in 1999 was $2,000,000. if the ENR construction cost index was 6059 at that time and is 6950 today, then what is cost of construction a similar building? kindly draw figure where necessary, need its solution please. its engineering economics.Explanation / Answer
Given that the construction cost for a building in 1999 was $2,000,000. The ENR index value in 1999 was 6059.
To compute the cost of same building in todays market, just divide the current index value with the old one and multiply the result with cost of building.
=2,000,000*6059/6050
=$2,002,975
Thus, the cost of construction a similar building today is $2,002,975.
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