Design Economics and Cost Planning Flashcards
What is Buildability?
Harnessing the contractor’s expertise during the design stage for efficient methods of construction
What is a Section 106 Agreement?
Agreements between local authorities and developers negotiated for planning consent
What is Shell and Core?
The basic structure, services, and envelope with fit-out to common areas
What is a CAT A fit out?
Generic fit out to lettable areas
What is a CAT B fit out?
Bespoke fit out to lettable areas ready for occupation
What is an Order of Cost Estimate?
Determination of possible cost early in design in relation to fundamental requirements
Purpose of an Order of Cost Estimate?
To establish if affordable and the maximum expenditure the client is prepared to spend.
What is a Functional Unit?
A unit of measure that considers the prime use of a building.
What is a Cost Plan?
A presentation of the estimated costs in an elemental format showing how costs are distributed across different elements.
Purpose of a Cost Plan?
To control the development of the design to the agreed cost limit.
Principle components of a Cost Plan? (Report)
CPOCIAEAD
Main elements of an estimate? (elemental)
EDF FUERISE
What is Contingency?
A sum to cover unknown expenses or unmitigated risks.
What is Value Engineering?
An approach aimed at providing the necessary functions of the building at the lowest cost without detrimental affects to quality.
What is Value Management?
A process of defining what value means to the client and putting in procedures to ensure maximum value first time.
