OCEs/Cost Plans

Question 1

Whats the difference between Life Cycle and Whole Life Costing

Answer 1

Life Cycle is Cradle to Grave (Construction, Maintenance, Operation, Demolition)
Whole Life is the above plus client costs like financing and land acquisition

Question 2

What headings of costs go into a Cost Plan?

Answer 2

Construction works
Preliminaries
OH&P
Out of Hours
Phasing
Fees
Risk
Inflation

Question 3

What are the different methods of OCE

Answer 3

Floor Area Method
Functional Unit Method
Elemental Method

Question 4

What is the Elemental Method of an OCE?

Answer 4

Benchmarked off of other projects, broken down by element usually on a sqm or sqft

Question 5

Where do you find the information required to create each Cost Plan?

Answer 5

Appendix C of NRM 1

Question 6

What information do you need for an OCE?

Answer 6

Site information
Building details (use, size)
Enabling/decanting
Programme

Question 7

When do you decide a cost limit?

Answer 7

Stage 1 - OCE

Question 8

What is a Cost Limit?

Answer 8

The maximum budget for a project

Question 9

What is the formula for indices

Answer 9

(New-Old)/Old