Quantification and Costing Flashcards
What factors can impact the reliability of cost data?
- Project specifities
- Time (inflation)
- Size of project
- Location
- Abnormals
Can you explain the internal benchmarking processes?
Gleeds internal benchmarking is using project data sheets to capture key cost data on different projects.
These data includes:
- Cost / m2 on GIA
- Cost / m2 on NIA
- Net : Gross
- Wall : floor
What are the differences between approx and firm bill of quants on a lump sum contract?
Approx - Contractor takes risk on the quants.
Firm - Client takes risk on quants.
What is a schedule of works?
A schedule of works is a pricing document that breaks the works sections down, however quantities are not listed when issued to Contractors as the Contractors will be responsible for ascertaining the quantities.
What is a prime cost sum?
A supply only rate for materials or goods where the precise specification is unknown.
PC sums exclude all costs with fixing, installation, fees, OH&P etc.
What do PC sums exclude?
PC sums exclude all costs with fixing, installation, fees, OH&P etc.
What are dayworks?
Day works are used when the works are not measurable.
A daywork sheet will be used to record the labour, plant and materials used to complete the work.
On Chelsea Barracks, you say you assessed multiple quotations. Can you explain what these quotations were, how you obtained them and how you reviewed them?
The EA would issue an instruction for a “request for Contractor’s estimate” to understand the financial impact of a change prior to instructing. I would review these quotations from the Main Contractor and assess in accordance with the JCT valuation rules.
Was Chelsea barracks JCT contract? If so, what are the JCT valuation rules?
A set of rules used for valuing change and valuing interim payments.
They are split by the works being measurable and unmeasurable.
If they are measurable:
- Contract rates
- Quotations
- star rates
- reasonable rates
If they are not measurable
- Dayworks
How do you price unquantifiable works?
Dayworks.
on NDA project, what was the cause of the delay?
Client design being issued late.
On Project Infrastructure, was the delay cause for a relevant event or relevant matter?
Relevant Matter.
On Building 8, can you explain why the contractor was entitled to money associated with defective work?
This was the fit-out element of the works. The fit-out contractor undertook a survey of the site upon taking possession and identified the slab to be out of tolerance and needed to allow for more screed than anticipated at the point of the Contract. This was not their defect.
Did you give the client any advice regarding the cost of rectifiying the work with the screed?
I advised my Client that the shell and core Contractor would not be liable to pay for the rectification as shell and core contract allowed the slab to be out of tolerance by 5%, which was the case with this issue. I did advise my Client that I would look to actively review value engineering opportunities to mitigate the risk of the project getting overbudget and look to agree the additional costs in a timely manner, and reported these costs within my cost report.
Regarding time based prelims, why does deducting the delay from the amount complete provide the most protection to your client?
There are two methods for adjusting for delay, by adding on the amount of weeks in delay and by taking away the number of weeks in delay.
I chose the latter, which had the greatest impact in protecting my Client.
Did the contractor agree that they were in delay? In a different scenario, if an EA thinks they are in delay, but the contractor disagrees, what would you do with your valuation?
Yes, the Contractor was reporting this same delay in their progress report.
If the Contractor disagreed with this assessment, I would look to negotiate with them to try and agree the issue. However ultimately, my assessment was fair and reasonable, and if the Contractor disagreed they could dispute this.
