How can you develop and maintain a cost engineering database?

Depends on the system, some of them have life cycle due to the innovation process and legislation activities. Ao database become obsolete and has no meaning to maintain for long period- it will not serve the purpose. Other systems which are linked to the stock market can be analyzed with reference risk management.

Data Entry Protocols: Establish protocols for entering data into the database. Ensure that data entry is accurate, consistent, and follows standardized formats. Validation Procedures: Implement validation procedures to identify and correct errors during data entry. This may include automated checks for outliers, missing values, or inconsistencies Update Frequency: Establish a schedule for regular updates. Frequent updates ensure that the database remains current and reflects the latest project cost information. Include Change Management: Implement a change management process to track modifications to project costs. Document any changes and the reasons behind them to maintain transparency.

Most of the time you don’t select but you use what is given for you. Software are assets and can be very costly. They are basically organizational belongings. Some of them can be tailored to tour needs, but reporting usually is the same and it is heck of work- u need to write endless of nonsense just for the sack of it.. rigid frameworks are difficult to work with and do not serve the purpose at all

Ok. But excess of information is not good as well. U need trusted info- a double exercise needs to be conducted here. Reliability of info is what matters, visualization can always be made and tailored to the needs with all required esthetics. The most important is help you in finding the niche that you are looking for, and get the info right away when you want

The table structure or data model should be clearly defined. The unique parameters should be included through which data health can be maintained

Part of lessons learnt and documentation, it is a required input for any future step. Indeed , that is important but in my opinion all the facts stated above and contribution need to there first. We can document as much as we want, we cannot extract needed info and analyze it when we want. Data is very vulnerable type

Especially when you have an eye on the innovation market, patents and stock market. That is essential, you will suddenly run out of spare parts cycles and that will harm your engineering project and of course to be granted a contract. People working in tenders knows how this is importsnt

I add that using BIM-based cost management processes in projects can automatically help to create cost databases, a regular consolidation of data between projects should be done.