JS Design and Economics Flashcards
What is SPONS - Who created it and owns it?
A pricing book for construction and infrastructure works, edited by AECOM
What is the difference between VE and VM?
VM - A broader approach that looks at the entire project lifecycle
VE - A Process that forms part of VM, it focuses on optimising functions while minimising costs
What is the RICS cost prediction statement?
Aims to provide consistency on approach to cost prediction gloablly
Addresses common cost prediction issues which lead to budget overruns
Promotes digital collection, analysis and storage
Improves trust and accuary in cost prediction
BP Phase East
Briefly talk me through how you facilitated the VE process?
Once I costed the latest architect’s sanitary schedule, I highlighted items that were driving the costs such as marble shower trays and bespoke brass wear. I set up a meeting with the architect and client to run through possible design options.
What Stage of a Project would you produce a OCE? What information do you need?
Stage 0 - 2
Client - Site Location, Indicative programme (key dates)
Architect - Floor plans, Roof plans, elevations, sections, Area Schedule, Storey Heights, UMS, Indicative Design
Structural / MEP - Indicative specs, Stage 2 reports with initial findings.
Gillingham House
What was your advice?
I advised the client how our project faired against other commerical projects I was working on and advised them for the reasons behind the higher costs for the MEP, frame and upper floors.
Gillingham House?
What was the cost /sqft?
£/ft was 380
What was the £/sqft for the MEP
£70/sqft
Gillingham House
Where did you obtain the cost data for your cost comparison against other schemes?
RLB have a benchmark data sheet which currently has 10 projects feeding into it from the last 5 years
How did you cost the additional fire protection?
How did you cost the sprinklers allowance within your cost plan?
I spoke to our MEP engineers and asked them for some advice on what a sensible allowance would be based on the GIA.
Gillingham House
Why was there a need for the 120 min fire protection
It was largely due to the insurance requirements and the funders brief, where they wanted to build buildings with sprinklers throughout, due to tenant attraction.
How did they receive your advice that their building was costing more?
I think they were expecting it as soon as sprinklers were mentioned in the meeting i made them aware that our previous stage 2 cost plan did not allow for sprinklers.
Amazon fit out
Why did you advise your inflation was higher than anticipated?
I advised the inflation was higher than normal as recent tenders I had received back indicate the cost for certain items, such as steel work and timber has high, due to the volatility of the market due to the Russia / Ukraine war. I had also checked the BCIS, the RLB inflation report and other competitors reports to see how they were reporting inflation.
Amazon Fit Out
You advised on inflation – what % did you include and why did the client disagree?
Included within the cost estimate was 5.5%, the client disagreed because they were looking at the BCIS, however, I advised that there were various reports
BH Phase East
Level 2 - What did you do?
Reviewed the MEP package with the design team and CM and targetted the sanitary ware package for VE items
Bollo Lane - Level 2
What did you do?
I produced an elemental cost estimate using the floor area method, checking efficency using the N:G ratio
Phoenix Academy - Level 2
What did you do?
Analysed the risk allowance on the project, using DfE benchmarking to compare my risk allowances
Phoneix Academy
On Phoneix Academy, how did you apply a calculated risk allowance?
Given the design had changed a lot and the project was still only at stage 2 and the site constraints such as working with an existing building, close to a railway line , so the risk was split between design development and construction risks
What is the RICS cost prediction statement?
Professional standard produced by the RICS which aims to
- provide a consistent approach to cost prediction globally
- To address common cost prediction issues which lead to budget overruns, e.g. accessing accurate inputs in a timely manner
- To promote digital collection, analysis, storage, updating and exchange of project and cost data
- To improve trust, accuracy and professionalism in cost prediction
What are some mandatory requirements under the cost prediction statement?
Identify the key assumptions, including any exclusions and how they can be managed, as well as timing and methodology constraints, made in deriving the predicted cost and the grounds for making them.
