Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Max P - RICS APC > Design Economics & Cost Planning - General > Flashcards

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

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

What is a cost plan?

A

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

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
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)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

What is build-ability?

A

Harnessing the contractors expertise and knowledge during the design phase

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

What are the advantages of buildability?

A

Better programming / sequencing of construction methods

Improved quality

Improved building performance and maintenance charachteristics

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
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)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

What is shell & core?

A

The basic structure, services and envelope of a building

AND

Fit-out of the landlord areas

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

What is a CAT A Fit-Out

A

‘Developers Fit-Out’

Provides the generic requirements to suit most developers

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
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

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
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

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

What is s106 agreement?

A

Agreements between planning authorities and developers and are planning obligations

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

What pricing books are you aware of?

A

SPONS

BCIS

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

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

A

BCIS Online

SPONS

Benchmarking

Tenders (Feedback Forms)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

What is BWIC?

A

Builders Work In Connection

  • Set % typically
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
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

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

What is the purpose of an OCE?

A

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

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
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

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
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

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
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
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

What is the purpose of a cost plan?

A

Used by the cost consultant to control the development of design

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
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

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

Why is VAT Excluded?

A

Different clients incur different levels of VAT

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

What is contingency?

A

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

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
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

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
Q

Name some Preliminaries sections?

A

Project Particulars
The site / existing buildings
Description of the works

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
26
Q

What should be considered when assessing preliminaries?

A

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

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
27
Q

How do you account for inflation when benchmarking or cost estimating?

A

Using TPI indexes

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
28
Q

What does TPI stand for?

A

Tender Price Index

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
29
Q

How do you take account of location?

A

Location factor / indices

30
Q

Why do you need to take account of location when benchmarking?

A

Different market conditions in different locations

Different cost of materials / wages etc

31
Q

What are the RIBA Plan of Work 2020 stages?

A 
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
Q

What is the RIBA Plan of work?

A

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
Q

What is VE

A

Value Engineering

Organised approach at providing the necessary functions at the lowest cost without detrimental effect to quality or performance

34
Q

What is VM

A

Concerned with making explicit what value means to the client

35
Q

When does VE occur?

A

Occurs during design whereas VM occurs at the outset / start of project

36
Q

What happens during the VE process?

A

Design team come together

Ideas brainstormed

Alternatives actioned and potentially implemented

37
Q

What are the VE Phases?

A
  1. Information Phase
  2. Speculation Phase
  3. Evaluation Phase
  4. Development Phase
  5. Presentation Phase
38
Q

What are life cycle costs?

A

The costs that will be incurred over a defined period of operating and maintaining a building or asset

39
Q

What are the advantages of life cycle costing?

A

Long term decision making

Material selection

Lower operational, replacement and maintenance costs

Plan future maintenance strategy

Sustainability measure

40
Q

What are the disadvantages of life cycle costing?

A

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
Q

Why do we carry out benchmarking?

A
  • Ensure value for money against the industry

- Measure against a KPI

42
Q

What are capital allowances?

A

Tax relief on capital expenditure for fixed assets

43
Q

What is the purpose of cost planning?

A

Ensure Client gets value for money

Alerts team of cost consequences from changing design

Allows designers to design within a budget

44
Q

How do you deal with abnormal items in your cost plan?

A

I would identify them as a provisional sum with a lump sum value against it

45
Q

How would check reliability of you cost plan?

A

Benchmark

Check distribution of costs

46
Q

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

A

Cost plan = Framework of construction costs across elements

Cost Analysis = Provides an elemental breakdown of an actual tender

47
Q

What is a unit rate?

A

Cost of labour, plant, material, Sub-Contractor OH&P

48
Q

What design factors influence cost?

A 
Wall;Floor Ratio 
Type of Building 
Specification 
GIFA
Location 
Proximity to others 
Time when work will be carried out
49
Q

What is NRM 1?

A

New Rules of Measurement 1: Order of Cost Estimating and Cost Planning for Capital Building Works

50
Q

What is NRM 2?

A

New Rules of Measurement 2: Detailed Measurement for Building Works

51
Q

Define GEA

A

The area of a building measured externally at each floor level

52
Q

Define GIA

A

The area of a building measured to the internal face of the perimeter walls at each floor level

53
Q

Define NIA

A

The usable area within a building measured to the internal face of the perimeter walls at each floor level

54
Q

What is the BCIS?

A

Building Cost Information Services

55
Q

What are the examples of risk allowances?

A

Design Development

Construction

Employer Change

Employer Other

56
Q

What is typically included under a design development risk allowance?

A

Design Change

Estimating Data Change

3rd Party Risks

Legal Agreements

57
Q

Examples of Construction Risk Allowances?

A

Site Conditions / Discoverable

Location

Prevention of work

58
Q

Examples of Employer Change Allowances?

A

Scope Change

Acceleration

Change of brief

59
Q

Example of Employer Other Risk Allowances?

A

Postponement

Premiums

Handover Acceleration

60
Q

What is tender inflation?

A

Estimate base date —> date of tender return

61
Q

What is construction inflation?

A

Date of tender return —> mid point of construction period

62
Q

What does GEA include?

A

Perimeter wall thickness

Areas occupied by internal walls

Entrance hall / atriums

Internal balconies

Outbuildings which share one wall with the main building

63
Q

What does GEA exclude?

A

External open-sided balconies

Canopies

Parking areas / roof terraces

greenhouses / garden stores

64
Q

What is included under GIA

A

Areas occupied by internal walls

Atriums / entrance halls

Lift rooms

Services accomodation

Loading bays

Garages

65
Q

What is excluded under GIA

A

Perimeter wall thickness

External open sided balconies

Canopies

Voids under structural floors

Greenhouses / garden stores

66
Q

What is included under NIA

A

Atria at base level

Entrance halls

Lift lobbies

Kitchens

cupboards

Ramps

67
Q

What is excluded under NIA

A

Common areas in entrances

WC, lifts, cleaners rooms

Stairwells

Lift lobbies

corridors / circulation spaces

Internal structural walls

Headroom less than 1.5m

68
Q

What is IMPS 1?

A

GEA

69
Q

What is IPMS 2?

A

GEA

70
Q

What is IMPS 3 (Office)?

A

NIA

Internal dominant face

71
Q

What does the RICS Code of Measuring Practice 6th Edition relate to?

A

GEA
GIA
NIA

Max P - RICS APC (27 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions