Design Economics & Cost Planning Flashcards
1
Q
What is an order of cost estimate?
A
- Order of cost estimate is prepared early in the design stage between RIBA Stage 0-2
- This is where design information is limited and allows an estimate to be prepared on a cost per m2 or functional unit basis
2
Q
What is a cost plan?
A
- A cost plan is typically produced from RIBA Work stage 2 onwards.
- As the design progresses more information is available to breakdown an initial cost estimate elementally into each component
- For example the sub-structure, superstructure, services and professional fees into an elemental cost plan format
3
Q
What is the difference between cost and price?
A
- Cost is total for labour, plant, materials and management deployed for a specific activity
- Price is the amount a purchaser or client will pay for a item or product and is made of the cost plus the main contractors profit margin
4
Q
How do you proceed if the cost plan exceeds the project budget?
A
- I would first analyse the costs to identify any elements of work that are abnormally high against the order of cost estimate
- Once the source of the overspend is identified I would then look to propose value engineering options to the client and design team to bring the forecast back in line with the project budget
5
Q
What is buildability?
A
- Buildability is harnessing the contractors knowledge and experience during the design stage
- This is used to generate ideas for effective and efficient methods of construction
6
Q
What are the advantages of buildability?
A
- Buildability can lead to more efficient programming of construction works
- Reduced capital and life cycle costs of the building can be obtained
7
Q
What is the wall to floor ratio?
A
- This ratio is used to show the cost efficiency of a building by looking at the relationship between the wall area and floor area
- The lower the ratio the cheaper the building is to construct as there is less external envelope in comparison to the floor area
8
Q
what is the most efficient shape?
A
- In theory a building with a circular floor plate would be most efficient as there is less wall to floor area
- However a circular floor plate has a poor lettable area and is often difficult to fitout therefore a square floor plate is considered to be the most efficient shape
9
Q
How would you prepare an estimate for M&E works?
A
- I would ask a M&E surveyor to undertake the estimate
- For feasibility estimates the M&E amount would be included in the m2 or functional unit rate
10
Q
what is the section 106 agreement?
A
- This is the agreements between local authorities and developers that are negotiated in the context of granting planning consent
11
Q
What is construction to shell and core?
A
- Shell and core is the basic structure, services and envelope of a building
- This normally includes the fitout of landlord areas for example the reception, toilets, lifts and stair cores
12
Q
What is a CAT A fitout?
A
- A Cat A fit out will provide a basic level of finish above what is provided in a Shell and Core
- For example suspended ceiling tiles, raised floors, and basic mechanical electrical services
13
Q
What is a CAT B fitout?
A
- A CAT B fitout overlays the CAT A provision with bespoke elements that are specific to the needs of the tenant to enable them to occupy the space
- For example this would include interior partitions, data cabling, artwork and branding
14
Q
Where could you find the definitions for these three types of Fitouts?
A
- Definitions can be found within the BCO fitout guide
15
Q
What is BWIC?
A
- BWIC stands for builders work in connection and is usually set as a percentage of the services cost
- This accounts for the main contractor to perform any drilling, fixing, or penetrations to enable services installation
16
Q
What is the purpose of an order of cost estimate?
A
- An OCO is used to establish if the proposed building project is affordable, and if so establish a realistic cost limit for the client