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DECP Flashcards

1
Q

What is BCIS?

A

Building Cost Information Services

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2
Q

What is SPONS?

A

Spons is a pricing book

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3
Q

How many SPONS pricing books are there?

A

4

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4
Q

Why is it important to adjust factors such as time, location and market conditions

A

To reflect historic data to current conditions for example, cost of construction differ between building in London and in the countryside.

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5
Q

What are the various stages of the cost planning cycle

A

Order of magnitude, order of cost estimating, cost plan 1, 2 and 3

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6
Q

What is NRM?

A

New Rules of Measurement

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7
Q

What is NRM1?

A

NRM1: OCE and Cost planning for capital building works

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8
Q

What is NRM2?

A

NRM2: detailed measurement for building works

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9
Q

What is NRM3?

A

NRM3: OCE and cost planning for building maintenance works

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10
Q

What is included in NRM1?

A

General Introduction
Rules of measurement for OCE
Rules of measurement for Cost Planning
Tabulated information
Appendix

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11
Q

What is a whole life cost?

A

The cost estimate for the whole of the project from inception to end of life, including construction and maintenance

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12
Q

What is lifecycle cost?

A

CAPEX and OPEX including construction, renewal, operation, maintenance and end of life

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13
Q

What is the difference between a cost plan and cost estimate?

A

Cost plan is a detailed elemental build up which can be developed as design progresses. Cost estimate is a snapshot in time, informs the budget and provides high level information

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14
Q

What are the advantages and disadvantages of framework rates?

A

Adv: agreed rates, reduces need for comparison and evaluation
Disadvantage: prevents use of competitive rates

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15
Q

What was included in the biodiversity OCE?

A

Build up of cost relating to different tree types

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16
Q

What method of measurement was used for biodiversity?

A

NRM1

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17
Q

Can you tell me some of the measurements that were included in biodiversity OCE?

A

Subelement external planting
Trees in NR
Hedges in M
Maintenance to trees in NR

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18
Q

What sub-elements did you recommend and why for biodiversity OCE?

A

Seeding and turfing - grassed areas in m2

Site clearance including clearing site vegetation, minor demolition works

Standard foundations - breaking out pavements

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19
Q

How did you check rates for your biodiversity OCE?

A

Used in house rates

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20
Q

What is benchmarking?

A

Benchmarking is the process of collecting and comparing data within an organisation or external to an organisation to identify the best in class

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21
Q

What is the difference between cost analyses and benchmarking?

A

Cost analysis is the examination of the distribution of costs across the elemental breakdown. Cost benchmarking is the process of collecting and comparing data to identify best in class

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22
Q

Cost base date

A

The date at which the cost reporting in the OCE or CP apply, exclusive of any adjustments for risk and or inflation

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23
Q

What is the impact of exchange rate on benchmark?

A

Have to take into consideration exchange rate to take the cost of a project back to a comparable base

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24
Q

Is there any clauses in a contract to deal with exchange rates?

A

In NEC you can use X3 which is the secondary option clause for dealing with multiple currencies

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25
What is IATA?
International Air Transport Association, represents over 80% of air traffic
26
Can you tell me about what RICS have in their cost analysis and benchmarking black book for benchmarking?
Measure what is important, keep it simple, focus on results but ensure they are interrogated properly
27
What is ICMS?
International Cost Management Standards
28
How is GIFA measured?
In accordance with IPMS
29
What is IPMS?
International Property Measurement Standard
30
What was the benchmarking for?
New build terminals and piers
31
How did you adjust for time in your benchmarking example?
Using local Construction Price Indices
32
How did you reflect exchange rate for your benchmarking?
Using an exchange rate website xe.com
33
What was the status of the projects in the benchmark?
All projects were live construction or completed
34
What is MPPA?
Million passengers per annum, for an airport building the primary function is passenger throughput.
35
What is IATA LoS?
A measure of the quality or the feel of the space. All benchmarked projects received an excellent score which is LoS A
36
What is IATA LoS A?
Excellent, it gives passengers 30-50% more space than C which is recommended
37
What is the new IATA LoS?
Optimum, sub-optimum, under provided, over designed
38
Can you tell me some benchmarking nuances that had to be considered?
ME larger areas and MPPA than NAM, UK and EU
39
Can you tell me the benchmarking process?
Projects taken from internal data set All data was anonymised Primary quantities recorded I.e MPPA, GIFA and bag handling rate Checked all units Cost base date and data age Base currency
40
What was the elemental break down of your benchmark?
In line with NRM: substructure, superstructure, roof, facade
41
What is optimism bias?
Motts found that there tends to be a high level of optimism in project estimates, in order for projects to be delivered to time and cost the optimism has to be reduced
42
Did you data in the benchmark remain confidential?
Yes it did, the client approved used of data and any external data results will be anonymised.
43
What gate stage was HE?
Gate Stage 3
44
Why did you advise that the risk was insufficient?
On review of the risk register, it was more reflective of an OCE rather than a cost plan. There were risk allowances and I advised that the client should consider costing each risk and consider the probability of the risk occurring. Based on other projects for HE, design development costs specifically third party risks needed to be considered further
45
Why did the Client revise the risk % to 20?
By costing the risks and considering the probably of the risks occurring
46
What is a feasibility estimate?
A high level estimate which informs the budget
47
What is a three point estimate?
An estimate based on the information provided with assumptions and exclusions, giving a minimum, maximum and most likely
48
Why was your min, most, max -28 to 34?
in house maturity model which informed the two levels, takes into consideration estimating uncertainty around scope, quantity and rate alignment
49
How does design maturity affect your three point estimate?
If a significant part of the current design because excluded, this would reduce the anticipated cost and vice versa.
50
Can you tell me an assumption for your three point estimate?
Platform extensions constructed without the need to alter the permanent way
51
Can you tell me an assumption for your three point estimate?
Platform extensions constructed without the need to alter the permanent way
52
Can you tell me an exclusion for your three point estimate?
Removal of Absestos and local authority charges
53
What method of measurement did you use for your three point estimate?
RMM
54
Can you tell me a difference between RMM and NRM?
RMM more specific to type of work and includes rail breakdown. Paths measured differently between the two, NRM1 in M, whereas in RMM1 M2
55
What inflation did you use for three point estimate?
Considered future possible effects of inflation based on indicative programme the client provided. Tender inflation and construction inflation
56
Did you include VAT in your three point estimate?
No, I advised the client that specialist advice should be sought on VAT matters
57
What was the base date for your three point estimate?
4Q21
58
What did you provide with your three point estimate?
Project title, description, a statement of cost, details of information and reference to documents used, assumptions and exclusions and estimate base date.
59
Can you tell me some of the elements in the RMMV1?
Railway control systems, permanent way, prelims, OHP
60
What is a cost plan?
Estimate based on specific design, a method of cost prediction
61
What RIBA stage was your review of the cost plan at?
Stage 2
62
What were your key findings in your assurance of the cost plan?
Alignment between cost plan and scope Further work needed to be done moving from CP1 to CP2
63
Can you tell me about what else wasn’t included in the scope but was included in the cost plan?
Temporary haulage road - diversion of utilities. No GI for utilities diversion for haulage road so this item may not have had to take place. Advised the client this site in risk register and not construction cost.

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