QS Questions

Question 1

Difference between RICS NRM1 and NRM2?

Answer 1

NRM1 uses an elemental structure which is suitable for top down cost analysis and cost planning.

NRM2 is a set of detailed measurement rules intended to create Bills Of Quantities for bottom up estimates.

Question 2

What indices would you typically use to uplift for inflation?

Answer 2

TPI - Tender Price Index

Question 3

What is TRA?

Answer 3

TRA is the amount of time allowed by the contractor in programming activities to allow for the risk of delay should problems arise. This might allow for risks such as poor weather and inefficiencies on site that have a reasonable probability of occurring but are not significant enough to merit inclusion in the risk register.

Question 4

What is Terminal Float?

Answer 4

Terminal float is owned by the contractor and is the difference between the planned completion date and the completion date as shown in the Contractor’s latest accepted programme.

Question 5

What happens to the terminal float if a compensation event affects planned completion?

Answer 5

Planned Completion and Completion Date would have to be moved back.

If the terminal float is 2 weeks, the CE can’t use that terminal float. It’s owned by the Contractor.