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Design Economics & Cost Planning - General Flashcards

1
Q

What is the difference between an order of cost estimate and a cost plan?

A

Cost Estimate is a high level forecast of construction cost

Cost plan is construction costs broken down into the elements

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2
Q

What is a cost plan?

A

Presents the estimated construction cost into a structural elemental or functional format

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3
Q

What is the difference between cost and price?

A

Cost = Labour, plant, materials and mangement for an activity

Price = Amount the purchase will pay (Cost + Profit)

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4
Q

What is build-ability?

A

Harnessing the contractors expertise and knowledge during the design phase

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5
Q

What are the advantages of buildability?

A

Better programming / sequencing of construction methods

Improved quality

Improved building performance and maintenance charachteristics

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6
Q

What is a wall to floor ratio?

A

Relationship between wall area and floor area

Used to show cost efficiency (Lower Ratio = CHEAPER)

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7
Q

What is shell & core?

A

The basic structure, services and envelope of a building

AND

Fit-out of the landlord areas

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8
Q

What is a CAT A Fit-Out

A

‘Developers Fit-Out’

Provides the generic requirements to suit most developers

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9
Q

What is a CAT B Fit-Out?

A

Overlays the CAT A Provision with bespoke elements particular to the needs of the tenant

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10
Q

How do you prepare an estimate for M&E Works?

A

Depends on the stage (For feasibility use £/m2 rates)

Otherwise consult an M&E Specialist in my team

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11
Q

What is s106 agreement?

A

Agreements between planning authorities and developers and are planning obligations

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12
Q

What pricing books are you aware of?

A

SPONS

BCIS

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13
Q

What sources of data do you use to quantify construction costs?

A

BCIS Online

SPONS

Benchmarking

Tenders (Feedback Forms)

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14
Q

What is BWIC?

A

Builders Work In Connection

  • Set % typically
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15
Q

What is an OCE?

A

Order of Cost Estimate

The determination of possible cost of a building early in the design stage in relation to the ERs

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16
Q

What is the purpose of an OCE?

A

Establish if the building project is affordable and looks to establish a cost limit

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17
Q

What is the typical format of an OCE / Feasibility Estimate?

A

Rate per m2 / Functional Unit / Element rates

*depends on the amount of info available

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18
Q

What is a functional Unit?

A

Method of measurement used to represent a prime use of a building e.g. beds, desks, apartments

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19
Q

What information do you need to consider for an OCE?

A
  1. Location
  2. Type of Building
  3. Floor Area
  4. Floor to Ceiling Height
  5. Design Information
  6. Client Requirements (Brief)
  7. Programme
  8. Quality
  9. Budget / Cashflow restraints
  10. Site Conditions
  11. Site Visit
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20
Q

What is the purpose of a cost plan?

A

Used by the cost consultant to control the development of design

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21
Q

What are the principle components of a cost plan?

A

Construction Cost
Preliminaries
OH&P

Contingency

Inflation

Assumptions & Exclusions
Area Schedule
Information Used

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22
Q

Why is VAT Excluded?

A

Different clients incur different levels of VAT

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23
Q

What is contingency?

A

A sum to cover unknown expenses or unmitigated risks during the project

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24
Q

What are NBS Preliminaries?

A

Define the scope of works

Include project particulars

Often contain items for pricing which are general items needed by the contractor to carry out the work the cannot be attributed to specific items of work

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25
Name some Preliminaries sections?
Project Particulars The site / existing buildings Description of the works
26
What should be considered when assessing preliminaries?
Length of contract Location Type of project Size of project Need for temporary works Need for security Limitations on method and sequencing Sectional completion Sevices
27
How do you account for inflation when benchmarking or cost estimating?
Using TPI indexes
28
What does TPI stand for?
Tender Price Index
29
How do you take account of location?
Location factor / indices
30
Why do you need to take account of location when benchmarking?
Different market conditions in different locations Different cost of materials / wages etc
31
What are the RIBA Plan of Work 2020 stages?
``` 0 - Stategic Definition 1 - Preparing & Briefing 2 - Concept Design 3 - Spatial co-ordination 4 - Technical Design 5 - Manufacturing and Construction 6 - Handover 7 - Use ```
32
What is the RIBA Plan of work?
RIBA Plan of works organises the process of; ``` 1. Briefing 2 designing 3. delivering 4. maintaining 5. operating ``` a building, which act as guidance for services to follow
33
What is VE
Value Engineering Organised approach at providing the necessary functions at the lowest cost without detrimental effect to quality or performance
34
What is VM
Concerned with making explicit what value means to the client
35
When does VE occur?
Occurs during design whereas VM occurs at the outset / start of project
36
What happens during the VE process?
Design team come together Ideas brainstormed Alternatives actioned and potentially implemented
37
What are the VE Phases?
1. Information Phase 2. Speculation Phase 3. Evaluation Phase 4. Development Phase 5. Presentation Phase
38
What are life cycle costs?
The costs that will be incurred over a defined period of operating and maintaining a building or asset
39
What are the advantages of life cycle costing?
Long term decision making Material selection Lower operational, replacement and maintenance costs Plan future maintenance strategy Sustainability measure
40
What are the disadvantages of life cycle costing?
Components are not always replaced at end of life costs of defects caused by bad workmanship / faults cannot be predicted uncertainty of available data Client may sell building after construction
41
Why do we carry out benchmarking?
- Ensure value for money against the industry | - Measure against a KPI
42
What are capital allowances?
Tax relief on capital expenditure for fixed assets
43
What is the purpose of cost planning?
Ensure Client gets value for money Alerts team of cost consequences from changing design Allows designers to design within a budget
44
How do you deal with abnormal items in your cost plan?
I would identify them as a provisional sum with a lump sum value against it
45
How would check reliability of you cost plan?
Benchmark Check distribution of costs
46
What is the difference between a cost plan and cost analysis?
Cost plan = Framework of construction costs across elements Cost Analysis = Provides an elemental breakdown of an actual tender
47
What is a unit rate?
Cost of labour, plant, material, Sub-Contractor OH&P
48
What design factors influence cost?
``` Wall;Floor Ratio Type of Building Specification GIFA Location Proximity to others Time when work will be carried out ```
49
What is NRM 1?
New Rules of Measurement 1: Order of Cost Estimating and Cost Planning for Capital Building Works
50
What is NRM 2?
New Rules of Measurement 2: Detailed Measurement for Building Works
51
Define GEA
The area of a building measured externally at each floor level
52
Define GIA
The area of a building measured to the internal face of the perimeter walls at each floor level
53
Define NIA
The usable area within a building measured to the internal face of the perimeter walls at each floor level
54
What is the BCIS?
Building Cost Information Services
55
What are the examples of risk allowances?
Design Development Construction Employer Change Employer Other
56
What is typically included under a design development risk allowance?
Design Change Estimating Data Change 3rd Party Risks Legal Agreements
57
Examples of Construction Risk Allowances?
Site Conditions / Discoverable Location Prevention of work
58
Examples of Employer Change Allowances?
Scope Change Acceleration Change of brief
59
Example of Employer Other Risk Allowances?
Postponement Premiums Handover Acceleration
60
What is tender inflation?
Estimate base date ---> date of tender return
61
What is construction inflation?
Date of tender return ---> mid point of construction period
62
What does GEA include?
Perimeter wall thickness Areas occupied by internal walls Entrance hall / atriums Internal balconies Outbuildings which share one wall with the main building
63
What does GEA exclude?
External open-sided balconies Canopies Parking areas / roof terraces greenhouses / garden stores
64
What is included under GIA
Areas occupied by internal walls Atriums / entrance halls Lift rooms Services accomodation Loading bays Garages
65
What is excluded under GIA
Perimeter wall thickness External open sided balconies Canopies Voids under structural floors Greenhouses / garden stores
66
What is included under NIA
Atria at base level Entrance halls Lift lobbies Kitchens cupboards Ramps
67
What is excluded under NIA
Common areas in entrances WC, lifts, cleaners rooms Stairwells Lift lobbies corridors / circulation spaces Internal structural walls Headroom less than 1.5m
68
What is IMPS 1?
GEA
69
What is IPMS 2?
GEA
70
What is IMPS 3 (Office)?
NIA Internal dominant face
71
What does the RICS Code of Measuring Practice 6th Edition relate to?
GEA GIA NIA

Design Eco & Cost Planning (2 decks)

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