Design Economics and Cost Planning - TO COMPLETE

Question 1

How do you assess the cost of something which is abnormal?

Answer 1

Contract rates unless it is different in condition and character
In house recent cost data ideally, if not can do market testing (do you know limitations of this?), Spon’s (…), BCIS

Question 2

Can you explain the various levels of estimating which you would expect as you go through the RIBA stages and the design develops?

Answer 2

0 - Strategic Definition - Rough order of cost estimate (high level spatial requirements, take consideration of any project risks, cost per square metre or functional type)
1- Preparation and Briefing - Order of cost estimate / Elemental cost estimate (test feasibility, take consideration of project risks)
2 - Concept Design - Formal cost plan
3 - Spatial Coordination - Formal cost plan
4 - Technical Design - Formal cost plan / PTE

Question 3

How would you produce a benchmarking document?

Answer 3

TO COMPLETE size, function, sector,
look at abnormals, adjust for time and location, size, procurement route, form of contract

Question 4

What is the purpose of NRM?

Answer 4

To provide a standard method of measurement and cost planning across the industry.

Question 5

What documents are there within the NRM suit and what are they used for?

Answer 5

NRM1 – order of cost estimating and cost planning for building projects
NRM2 – measurement of building works
NRM3 - order of cost estimating and cost planning for maintenance projects

Question 6

Within your documents, you mentioned that you implemented VE due to the contractors tender return coming in higher than anticipated. Can you give me some examples of the VE items and what kinds of savings they potentially could have had?

Answer 6

TO COMPLETE Client requirement for 5 years carpet change, dwp

Question 7

What is inflation and how would you account for this within your costings?

Answer 7

Forecasted uplift of costs over a set period of time. Would find from BCIS - Tender Price Indices