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APC 24 > Quantification and Costing - TO COMPLETE > Flashcards

Quantification and Costing - TO COMPLETE Flashcards

1
Q

Why did you choose a Schedule of Works?

A

1) Works are of a relatively simple nature and we dont require the level of detail when it comes to valuing change
2) Client also didn’t want to take the risk of quantities being incorrect and as such passed that back to the contractor
3) M&E didn’t lend itself to BoQ as they were reliant on design and coordination by contractor
4) Allow the contractors to cost using past experience and achieve competitive market rates.

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2
Q

What are the disadvantages of using a BoQ for the client?

A

Client takes risk if wrong

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3
Q

NRM1

A

Order of cost estimating and cost planning for capital building works

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4
Q

NRM2

A

Detailed measurement for building works

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5
Q

NRM3

A

Order of cost estimating and cost planning for building maintenance works

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6
Q

Types of pricing documents available

A
  • BoQ
  • Schedule of Rates
  • Schedule of Works
  • Contract Sum Analysis
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7
Q

Bill of Quantities

A
  • Issued to tenderers to prepare a price for carrying out the works
  • Assists tenderers as they all price same quants he bill of quantities
  • Provides fair accurate system
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8
Q

What are the steps you would take to create a BoQ?

A
  • Can be prepared elemtally or in works packages
  • Using a standard form (NRM2)
  • Once you have design drawings and spec you can measure and take off.
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9
Q

+/- of BoQ

A
  • Simplifies tender analysis
  • Saves the cost and time of contractors measuring
  • Better for interim valuations and variations
  • Client takes risk if wrong
  • Takes longer to produce and more costly
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10
Q

Schedule of Rates

A
  • List setting out staff, labour and plant hire rates that contractor will use for pricing the works
  • Does not contain quants for the work items and is typically used when nature of work required is known but cannot be quantified or continuity of programme cannot be determined
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11
Q

+/- of SoR

A
  • Variations easier to estimate and normally cheaper than fixed price traditional contracts
  • Client can stop start work at a pace determined by cashflow
  • Inexpensive and quick to tender for contractors
  • Additional resource required to measure work
  • Client does not have final price when committing
  • Contractors may be tempted to front load
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12
Q

Schedule of work

A
  • Lists the works required on a project
  • References the requirements included in the specifications and contract drawings plus any additional ‘builders work’ items
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13
Q

Contract sum analysis and disadvantages

A

Mainly used in D&B, less detail than SoW
- Alternative pricing document
- It’s often prepared in a standard format by the Employers Agent to support the tender returns review. The Employers Agent requests that all tenders are returned on the same CSA format.

  • Less detailed (one item vs multiple in SoW)
  • Not suitable for valuations
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14
Q

NRM Sections

A

Facilitating
Substructure
Superstructure
Internal Finishes
FFE
Services
Pre Fab Building units
Work to existing buildings
Prelims
OH+P

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15
Q

Alternative to NRM

A

SMM7 can be used, although not RICS best practice.

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16
Q

How do you measure formwork

A

Caluclate length, depth and width for volume.

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17
Q

What is wall to floor ratio?

A

Ratio of wall area to floor area, shows cost efficiency of building. Lower the ratio the cheaper the building as there is less external wall per m2

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18
Q

What is a composite rate

A

A rate including varying elements. Such as removal of exisitng prep and apply new floor.

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19
Q

What is the most efficient shape building in terms of wall to floor ration?

A

Circular

20
Q

What is the cheapest shape building to construct?

A

Square

21
Q

Why is the most efficient WTF and cheapest different?

A

Costs more to constrcut curved rooms

22
Q

What is a functional unit and how would you use this for cost planning?

A

Functional unit is for example a hospital bed which can be used in an order of cost estimate t build up cost

23
Q

How would you account for VAT in a cost plan?

A

VAT would be omitted as differing clients may get different rates applied

24
Q

You have clearly got a wide range of experience doing valuations, run me through an issue you have had during a valuation and how you overcame it?

A

E.g. lump sum, how is this proportioned to all works (piling) - had csa on job and no breakdown, had to agree suitable split

25
Q

Give some examples of measured works on your projects and how you valued them?

A

Associated with BoQ - measuring carpet

26
Q

Provide some examples of time related costs?

A

Tower crane weekly hire

27
Q

Provide some examples of fixed costs?

A

Tower crane erection

28
Q

Why do we carry out valuations on construction contracts?

A

To increase cost certainity for the client and ensure works are progressing as required

29
Q

What is meant by payment on the basis of quantum meruit?

A

Reasonable remuneration for work done or goods supplied where there is no agreement as to price

30
Q

In relation to time, cost and quality, can you explain why you advised your client to use a schedule of works?

A

Time - Schedule of works is quick to produce, we don’t take off quants
Cost - Cost certainity based on tender drawings and specification
Quality - Schedule of works built up using NRM 1
Risk - Risk for quants with MC

31
Q

If the client is hoping for a quick pre-tender programme, what pricing document would you advise?

A

Schedule of Works

32
Q

How can works be costed

A

Lump Sum
Cost Reimbursable
Re-measurement
Target Cost
Guaranteed Max Price

33
Q

Lump Sum

A
  • Cost agreed at start of project. Can only be altered by formal variations.
  • Use when - Have detailed design (complex work)
34
Q

Cost Reimbursable (Cost Plus)

A
  • Contarctor payed actual cost + agreed fee (OH+P)
  • Use when scope is not properly defined and SOS is urgent (Emergency)
35
Q

Re-measurement

A
  • Costed using schedule of rates and detailed measurment at each valuation.
  • Use when scope of works can be described in detail but the quantities cannot (Maintenance)
36
Q

Target Cost

A

Hybrid of cost reiumbursable and lump sum. Agree a price for the works but then subtract the actual cost and split the saving or uplift (pain and gain).

37
Q

What is a base cost estimate

A

Everything included but no risk, uncertianity or inflation.

38
Q

On your project, can you explain how you prepared the schedule of works?

A
  • Using the specification and drawings provided by the architect
  • Use NRM1 for elements
  • Preambles - Explanation of the document and instructions
  • Rate and quantity are blank
  • References drawings and specifications throughout to assist contractor
39
Q

What are the roles of various people in preparing the pricing document?

A

Employer works with designer to produce spec and or drawings to be used by QS to produce

40
Q

What would not be included in a cost plan that they would incur.

A

Insurancies, Section 106, planning, marketing, Land Acuisiton costs.

41
Q

Dayworks

A

Daywork is a means by which a contractor is paid for specifically instructed work on the basis of the cost of labour, materials and plant plus a mark up for overheads and profit.

42
Q

Section 106

A

Social responsibility or give back

43
Q

Section 278

A

Road and Highways give back.

44
Q

IPMS

A

International Property Measuremnt Standards
Used for consistancy in measurement
Offices, industrial, residential and retail.
1) Gross external area
2) GIFA
3) NIFA

45
Q

ICMS

A

International Cost Management Standard

Provides a single methodology for reporting, grouping and classifying construction project costs.

Formerly known as International Construction Measurement Standards

APC 24 (24 decks)

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