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Consideration For Using An Index
What is an index used for?
Buildings?
Equipment?
Special occupancies?
Who will use the index?
What is to be the base year?
What is the frequency of issuance, i.e., per quarter?
What data(mix) are to be considered?
Types of buildings, etc.?
(Would a general contractor's building index be the same as that for an insurance company?)
Where will the data come from?
(Continuity, reliability, etc.)
What weighting, if any, will be used?
Most indexes are not weighted.
Will the range of average be adjusted, i.e., high and low dropped?