1.5 Cost Planning Adjustments Flashcards
What are the main factors which can affect the cost of a construction project?
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How might location affect the cost of a construction project?
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Explain how the geographical location can affect the cost of a construction project.
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Explain how the nature of the project location can affect the cost of a construction project (e.g. urban v rural).
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What are the 5 constituent elements of cost that is affected by location?
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How might labour costs be affected by location?
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How might plant costs be affected by location?
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How might material costs be affected by location?
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How might preliminary costs be affected by location?
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How might OH&P costs be affected by location?
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Give an example of additional preliminary items that would be additional in a city centre compared to rural?
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Explain the cost implications in relation to building on an open site as opposed to a restricted site?
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How might the nature of the building affect the cost of a construction project?
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Explain how room sizes might affect the cost of construction.
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Explain how consideration to lettable / non-lettable space may impact on the cost of construction.
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Explain by referring to the elemental categories how the nature of a building can affect the cost of a construction project.
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How might plan shapes affect the cost of a construction project?
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Explain by referring to the elemental categories how the plan shape of a building can affect the cost of a construction project.
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How might height affect the cost of a construction project?
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Explain what the wall to floor ratio is and how to work it out. How is this useful in assessing the cost efficiency of a building?
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Explain by referring to the elemental categories how the height of a building can affect the cost of a construction project.
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How might specification affect the cost of a construction project?
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Can you give some examples of different specifications of the same element (e.g. floor finishes internal partitions) and their associated costs?
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In terms of specification compare the cost of the elements of a school and a hospital?
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Explain how market forces can affect the cost of construction projects. Give some specific examples.
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What might be the implications of Brexit?
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Where do you think the market is going?
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How do interest rates affect the construction industry?
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What factors might affect the difference in OH&P?
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What indices do you use to adjust for location in a cost estimate or cost plan?
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What indices are available in preparing a cost plan/estimate? Where would you look for them?
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What is TPI and how would you use it in your estimate?
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What is BCI and how would you use it in your estimate?
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What is the difference between the Tender Price Index and Building Cost Index?
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What factors does TPI include compared to construction inflation?
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How has TPI changed over the last 12 months?
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In what two instances would you apply TPI in an estimate?
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How do you update for construction costs?
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Would the cost plan be adjusted for different parts of the country and why?
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How does the length of the construction period affect the cost of the project?
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