Emily Law, 19.06.24

Question 1

Say, after you have built up the risk register and the risk turned out is £1m, would you just include it directly into your cost estimate?

Answer 1

No. The items in the Risk Register would be categorised into the 4 risk areas identified by the NRM ie
Construction Risk
Design Development Risk
Client Change Risk
Client Other Risk

The Risk Register and the allowances would be shown in an appendix section of the cost plan.

Question 2

Cost report (Haringey Hub) – how would you handle contingency in your monthly cost report?

Answer 2

Contingency is an omitted item and shown as zero as part of the anticipated final account.
Expenditure is allocated to the Variation items.
A line item in the AFA Summary Table would indicate how much remaining contingency was still unexpended (ie how much below contract sum).

Question 3

Level 1

Question 4

Can you tell me what specific types of estimates to be done in RIBA Stage 0 to Stage 4?

Question 5

Can you tell me what is benchmarking?

Answer 5

Benchmarking in construction estimates involves comparing current project costs and performance metrics against historical data or industry standards to set realistic budgets

Question 6

Can you tell me the structure of a cost plan under NRM1?

Question 7

Can you tell me what wall to floor ratio is. How would the wall to floor ratio of office building differ from residential building?

Answer 7

Office building would be more efficient ie much bigger floor plates to floor heights.

Question 8

If a Client asked you about the most efficient building design, what would you advise and why?