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RICS APC - ERH > Quantification & Costing > Flashcards

Quantification & Costing Flashcards

1
Q

What methods of measurement are you aware of?

A

IPMS - Offices, Resi & Retail - mandatory if asked to use otherwise - will undertake under code. (Incl balconies and limited use areas e.g height less than 1.5m i.e. window reveals)

RICS Code of Measurement Practice - 6th Ed 2015 - GEA/GIA/NIA - all other buildings.

ICMS - International framework for measurement - basis of NRM.

NRM 1, 2 & 3 (2021) - 2021 update to align with ICMS & RIBA PoW 2020 & CPPS (cost prediction proff standard)

CESMM - Civil Engineering Standard Method of Measurement.

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2
Q

What is NRM?

A

New Rules of Measurement
Books published by the RICS to provide a set of measurement rules for estimating / cost planning / procurement for construction projects.

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3
Q

What is NRM 1?

A

Provides guidance on quantification of building works for cost estimates and cost plans.

It is the ‘cornerstone’ of good cost management of construction projects – enabling more effective and accurate cost advice to be given to clients and other project team members, as well as facilitating better cost control

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4
Q

What is NRM 2?

A

Provides guidance on the detailed measurement and description of building works for preparation of bills of quantities.

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5
Q

What is NRM 3?

A

Provides guidance on the quantification of maintenance works.

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6
Q

What is the shorter schedule of cost components

A

The Shorter Schedule of Cost Components is designed for assessing compensation events.

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7
Q

What are the types of cost estimate?

A

Floor area
Functional unit
Elemental

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8
Q

What information is required for an Order of Cost Estimate?

A 
Location of site
Statement of floor area
Floor plans
Roof plan
Elevations
Sections
Storey heights
Initial risk register
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9
Q

What information is required for a Formal Cost Plan?

A 
Procurement Strategy
Contract Strategy
Fees 
Budget
Detailed design info
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10
Q

What are the sections of NRM?

A 
0 - Facilitating Works
1 - Substructure
2 - Superstructure
3 - Internal Finishes
4 - Fittings Finishes and Equipment
5 - Services
6 - Prefabricated Buildings and Building Units
7 - Work to Existing Buildings
8 - External Works
9 - Main Contractor's Prelims
10 -Main Contractor's Overhead and Profit
11 - Project / Design Team Fees
12 - Other Development / Project Costs
13 - Risks
14 - Inflation
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11
Q

What is the structure of NRM 1?

A

Part 1 - Cost estimating + cost planning in the context of RIBA stages
Part 2 - Purpose + content of order of cost estimate
Part 3 - Purpose + content of formal cost plans
Part 4 - Tabulated measurement rules
Appendices

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12
Q

What is ICMS?

A

International Construction Measurement Standards
They are a new universal system that enable global comparison of construction project costs.
RICS prepared a global professional statement on cost prediction incorporating ICMS in 2020.

Basis of NRM

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13
Q

Why does location affect cost?

A 
Availability of materials
Transport cost & routes
Availability of labour
Ease of access to site
Availability of services to site
Vicinity of sites in relation to amenities
Local labour costs
Travel distances
Existing land conditions
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14
Q

What are RPI and CPI?

A

Retail Price Index and Consumer Price Index.
Government’s preferred measures of inflation
May be used to update costs
Use with caution as they are not construction specific
Construction activity does not necessarily reflect the profile of UK economic activity

TPI - inflation measure for tendering for costplans

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15
Q

What is the RICS Code of Measurement Practice?

A

A UK measurement guidance note published by the RICS. It gives definitions for GEA, GIA and NIA and explains how to measure them correctly.

To be used on all other asset types that the IPMS does not cover (ie. anything other than offices, retail, resi)

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16
Q

What is IPMS?

A

International Property Measurement Standard

IPMS 1 -
The sum of the areas of each floor level of a Building measured to the outer
perimeter of external construction features, which may be reported on a
Component-by-Component basis for each floor of a Building.

IPMS 2 – Office
The sum of the areas of each floor level of an office Building measured to the
Internal Dominant Face and reported on a Component-by-Component basis for
each floor of a Building.

IPMS 2 – Residential
The sum of the areas of each floor level of a Building measured to the Internal
Dominant Face, which may be reported on a Component-by-Component basis for
each floor of a Building.

IPMS 3 – Office The Floor Area available on an exclusive basis to an occupier, but excluding Standard Facilities, and calculated on an occupier-by occupier or floor-by-floor
basis for each Building.

IPMS 3 – Residential The Floor Area available on an exclusive basis to an occupier

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17
Q

What does IPMS cover?

A

Offices & Residential
RICS members are expected to advise their client or employer on the benefits of using IPMS. However, it is understood that IPMS is not suitable in all circumstances
and in these circumstances RICS members must document the reason for departure.

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18
Q

When did IPMS come into use?

A

2nd Ed - Jan 2018

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19
Q

What is NRM?

A

New Rules of Measurement provides a standard set of rules and essential guidance for the cost management of construction projects and maintenance works

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20
Q

What did the NRM CPD event that you attended cover?

A

It was a general overview of NRM suite and how to use them

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21
Q

How do you quantify differently for a feasibility estimate or a cost plan?

A

A feasibility estimate will be based on areas or functional units. Usually just GAs and facades are measured.

Cost plans are measured on an component basis.

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22
Q

What did you advise the client were the key changes between IPMS and RICS Code of Measurement Practice?

A

On a previous the biggest difference was the inclusion of window reveals in IPMS 1. These are stated as limited use areas.

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23
Q

What did you advise the client were ways to meet the net to gross efficiency ratio target on the masterplanning project?

A

There was a large stepped theatre like ‘touch-down’ space within the atrium which, although was intended as flexible working space, could not be included within NIA. Reducing the area of this and increasing the area of the mazzanine floor would increase net to gross efficient.

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24
Q

What is Benchmarking?

A

The systematic method of comparing project performance against others, then using lessons from the best to make targeted improvements.
The ‘Benchmark’ is the best in class.
It is often misused to mean average or minimum performance.

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25
How can Benchmarking assist Value Engineering?
It can inform the spread of cost among construction elements so you can identify if something is 'high'.
26
Were you given permission to publish confidential data from your reception benchmarking exercise?
I seeked my employer's approval before using project data | The published report did not identify the data source, project name or employer
27
How can benchmarking help inform a client about risk?
The greater the range of data, the more risk is involved.
28
When collecting benchmark data, what do you use as the 'base data'?
For lump sum contracts, base data is 10 days before the tender return For projects where price is not fixed, base data is the mid-point of construction
29
What levels of BCIS location indices are there?
Regional County District
30
Apart from cost data, what else do your benchmarking reports convey? (in words)
``` The purpose of the exercise The scope of the exercise Methodology behind selection of comparison projects Exclusions How abnormal have been dealt with Rebasing factors Main drivers for the results ```
31
What is a star rate buildup
Star rate item refers to item for which rate is not listed in the contract. Can be built up from L/P/M principle
32
What is GIA
Gross Internal Floor Area - Area of a building measured to the internal face of the perimeter walls at each floor level Incl - as GEA but excl thickness of perimetre walls & external projections Excl - external wall thickness, open sided balconies, canopies, greenhouses & garden stores Use - Building cost estimation, estate agency valuation, property valuation, new home valuation
33
What is NIA
Net Internal Area - The usable area within a building measured to the internal face of the perimeter walls at each floor level. Incl - usable areas Excl - common areas - Wcs, lift rooms, plant rooms, cleaners stores, circulation areas, stat services areas, aircon/heating areas, headroom less than 1.5m, parking areas.
34
Advanced payments
Security | Commercial risk to client
35
Inflation
TPI - Tender price - applied to tender price returns Tender Price Index - TPI - Level of inflation used = previous data / market conditions / future predictions ( all back to 1980s date) - BCIS CPI - Bourne by contrator post contract
36
What is incl in payment cert
``` Contract Sum Assessment Project details Previous cert gross Deductions Variations ```
37
Types of BoQ
Appox quants & firm quants
38
Pricing options for contracts
``` Lump Sum Target sum Remeasureable GMP Cost plus ```
39
4 risk categories in NRM
Design dev risk Employer change risk Construction risk Employer other risk
40
Diff between price & cost
``` Cost = how much contractor would pay out = L/P/M & mangement Price = is cost plus profit = What employer will ulimately pay (plus an contractors OHPor any contingency) ```
41
How would you measure Struc steelwork
Tonnage - SMM7 & NRM | lm x £kg/m
42
Brickwork
On a centre line - lm / m2
43
8 sections of elemental sections
``` faclitating works sub super FFE M&E - services prefab Extisting works Int finishes works to existing ```
44
Cost plan v cost estimate
Cost plan & cost estimate Estimate - high level review of works for feasibility Cost plan - more struc & detailed into sections - costs into cost report (manage costs at precon stage)
45
Prelims
Prelims in cost plan - % | Type of project & risk of constraints - 12-15%
46
What is the purpose of BoQ
Purpose of BoQ - what works to be undertaken / like to for like pricing / detailed measured breakdown - basis pricing & estimating, tender comparison, valuation analysis
47
What are the RIBA plan of works stages 2020
``` 1-7 0- Strategic definitiion 1- Preparation of brief 2- concept 3 - developed 4 - technical 5 - Construction 6 - Handover 7 - Use (maintenance) ```
48
Purpose of cashflow
Cashflow: Funding & drawdowns Financial reporting & commitments & planning Corrective actions if cash shortages Monitoring against porgramme - progress measure
49
What do you do if a BoQ rate is incorrect?
If BoQ rate incorrect - should use incorrect rate as per valuation rules Use similar rate in the BoQ Could use buildup of star rate
50
What is included in Whole life costings?
``` Construction costs Maintenance costs Operating costs Occupancy cost End of life Plus Income & non construction costs (land & fees) ```
51
Life cycle costs
As above but excl land & fees & income
52
Example of front loading
Paint in first val - Front loading | making foundations unrealistically higher than sould be in rates / milestones
53
What issues does over & under valuing works cause
Over valuaiton - exposure to client | Under valuation - may prevent contractor fulfilling obligations - must be realistic & reasonable financial assesssment
54
Options for valuation
Staged (Milestone) or Interim (as per valuation schedule in contract based on % of works compelted on a regular basis (usually monthly)
55
When was the NRM last updated
Issued Oct 2021 - came into effect Dec 2021
56
Why do quantities need to measured in a uniform way?
To provide a consitent trusted method of measurement across the industry
57
What are the different methods of measurement?
IPMS - International Property Measurement Standards (Offices & Resi) ICMS - International Cost Measurement Standards 2019 2nd Ed (Infrastructure) RICS Code of Measurement (Offices & Retail) NRM (ss SSM7) CESMM - Civil Engineering Standard Method of Measurement
58
Can tell me what is your understanding of RICS code of Measuring Practice?
2015 - precise definitions of calculations of sizes - areas and volumes And description or spec of land / buildings Core defintions of GEA / GIA / NIA
59
When would it be used in your day to day employment?
If undertaking high level benchmarking across simialar schemes would use GIA GEA - The area of a building measured externally at each floor level. Town Planning / Building cost estimate for resi properties for insurance purposes / Coucnil tax for houses GIA - The area of a building measured to internal face of external wall at each floor level. Used - New homes valuation, ratings on commercial propoerties, building cost estimates. NIA - Area of building measure to internal face of perimetre walls at each floor level. Used - Rating for shops, valuation & marketing of shops, offices & businesses.
60
GEA, GIA and NIA how are they each measured?
See above
61
What new standards have been introduced (ICMS)?
ICMS - Internaltion Cost Management Standards 2019 - Offering global constincey in presenting construvciton and other Life Cycle Costs
62
Will the Employer’s Requirements be available at cost plan stage?
RIBA Stage 3 - concept design = cost plan - ERs developed during stage 3
63
Which method of measurement would you consider is the most appropriate for measuring civil engineering works?
CESMM - Civil Engineering Standard Method of Measurement - Ed 4 2012
64
What is the purpose of NRM 3?
NRM 3 - Quantification of Maintenance works
65
How do British Standards affect the measurement of construction works?
British Standard (BS) are technical specifications or practices that can be used as guidance for the production of a product, carrying out a process or providing a service - as such if change in BS - it may need to be reflected in the way that element is measured and quantified example? Part L - consider thermal performance - need to know if using benchmarking may be change
66
How do the Building Regulations affect the measurement of construction works?
They identify what types of buildings are exempt (such as temporary buildings). Requirements for specific aspects of building design and construction - as such any changes may need to be reflected in the measurement of specific packages of work. example? - need to know if using benchmarking may be change
67
What is your understanding of the shorter schedule of cost components?
Used to assess Compensation Events under NEC - Elements of people, Equipment, Plant and Materials, Subcontractors, charges, manufacture and fabrication, design and insurance. The schedules relate to the rates contained in the Contract Data.
68
What current challenges is Covid and/or Brexit bringing to Quantification & Costing?
More work forced online - implications in understanding how software works, calibration of scales, check measures. How delays and additonal costs associated with Covid are dealt with ? Fluctuation material rates - historic data not reliable Risk allowance
69
Give me an example where have undertaken measurement of construction works using a standard method of measurement? Which standard method of measurement did you use?
``` NRM 2 - Cladding brick panels Measurement of: Wall areas over 600mm wide - m2 Wall areas under 600mm wide - lm Areas to soffits under 600mm wide -lm Deduction of openings - doors & windows Working around windows & doors, vents - nr Measurement of heads, jambs, sills, flashing, angles, fire stops, - lm ```
70
Tell me more about this challenge of the method of measurement of removal of asbestos ducts you refer to in your summary of experience.
As part of a client variation I have to undertake quantification and collate costings for asbestos containing ductwork discovered on site. Upon reviewing the subcontractors measures and prcing I discovered they had measured the ducts twice by applying the measure twice for removal of ducts (incl contents) and disposal of material within ducts. Due to nature of works not being defined clearly within NRM - I sought market check pricing to determine overall cost which discovered it was in places double measured and costs inflated.
71
Take me through the process of building rates from first principles. How does it work?
Understand elements of rates - Labour, plant, materials, subcontract elements plus OH&P
72
Take me through the measurement of foundations for a project such as Barton Court using a standard method of measurement.
Foundations at Barton Court - pad and strip Locating services, Site clearance, removal of obstructions in ground if known, any bulk excavation to get to correct levels. Excavation of trenches - m3 noting any over 2m deep / in type of soil / water issues If alongside services - sewer - lm Blinding in m2 noting thickness Mesh measured kg/m2 incl type and where bent No support work needed as mostly within 2m in chalk so solid trenches All disposal noted to be retained onsite for reuse. Mass concrete measured in m3 incl spec & stength Type of finish measured m2 Accessories cast in - HDB - nr
73
Give me an example where you have prepared a pricing document for subcontract works.
Prepared the gebrick pricing document for market testing for VE exercise at Barton Court. Undertook measure of gebrick cladding works With items for preliminaries / access noted seperately. Line items for any specific scheudle of rates & OH&P %
74
How did you decide on which pricing document to use?
``` Differs for different projects - if remeasurement would choose a BoQ, if lump sum may look at an activity schedule or milestone scheudle BoQ Lump Sum Activity Scheudle Milestone Schedule ```
75
Give me an example where you recommended / advised on the use of a particular standard of measurement for a subcontract work package. What did you recommend / advise and why?
NRM for Groundworks BoQ prodeuction to ensure consistency of measurement if required post contract for variations
76
Give me an example where you recommended / advised on the use of a particular pricing document. What was the rationale for your recommendation / advice?
Milestone Schedule - Groundworks
77
How does a pricing document would help with cost certainty? Explain.
1. Allows for like for like pricing when tendering. 2. Can cross check rates / prices for the same items/ plug gaps- fair and accurate. 3. Value extent of works for variations & valuations for payments - assisting transparency & ease of valuing works. 4. Can also help preparation of cashflows forecasts
78
When would you recommend the use of bills of quantities?
If dictated by the type of contract - traditional w quantities or remeasurement.
79
When would you recommend the use of daywork rates as a method of pricing construction works.
Remedial, emergency works, unforseen works or no comparative works in BoQs
80
What are the two types of dayworks
Prime Cost - Allowance for a material elelemt to change but plant, labour & OHP remain the same All inclusive rates - Labour, plant, materials plus OH&P
81
What is the OGC ?
Office Government Commerce - stages 0-5 similar to RIBA plan of work stages
82
Order of cost estimate
High level estimate - cost per m2 RIBA - 0 & 1 2,3,4 cost plans
83
4 primary levels of elements
``` Group = super / fac works Elements = upper floors / toxic Sub-element = lh coloumn / contamination Components = unit of measurement / removal treatment ```
84
How to value variations
Comparable rates Form a rate on base of contract rate Quotation Dayworks
85
When you may used dayworks
opening up | emergency
86
Cost data
Benchmark Quotes Pricing books Historic data
87
Quantum merrit
fair & reasonable
88
head of claims
disruption finance prolongation loss of profit
89
Sch 2 quotation
JCT detail on how to value a change
90
Review Appendix C in NRM Dec 2021
RIBA stages - costs plans at each stage | Appendix A - functional unit
91
Benchmark on NIA
In line with NRM - picks up abnormals seperately
92
What are the changes in the new NRM (Dec 2021) ?
1) Brought in line with RIBA plan of work stages. 2) Brought in line with ICMS 3) Brought in line with code of measurement
93
39. What effect do building regulations have on quantification & costings?
a. Specification / referral point | b. E.g. BR doc M – standard in sanitaryware for disabled / accessible WCs
94
40. What impacts has covid had on quantification & costs?
a. Lead in / availability / increasing prices / shortages
95
14. What is Earnt Value Management?
a. Process of collection of information – actually achieved vs planned
96
15. Difference between WLC & LCC?
``` a Black book on LCC definition: WLC: Non construction cotsts - land / fees / financing / tax liabilities LCC - see below Income - rent, land sales Externalities - stats costs ``` ``` LCC: Construction costs Renewal Operational Maintenance End of life costs ``` b. The difference between LCC and WLC is that LCC focuses only on the construction, maintenance, operation and disposal of the asset, whereas WLC also includes client and user costs, such as project financing, land, income and external costs.
97
16. How might you value operational / maintenance costs for LCC / WLC ?
a. BCIS / supply chain

RICS APC - ERH (22 decks)

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