Quantification & Costing Flashcards
What would be on your take-off list for a concrete slab?
- Floor slab area, incl the depth
*Reinforcement allowance - Formwork
- Joints
- Surface treatments
What is NRM 1?
Order of cost estimating and cost planning for capital building works
What is NRM 2?
Detailed measurement for building projects
What is NRM 3?
Order of cost estimating and cost planning for capital maintenance works
What is standard methods of measurements?
Standard methods are rules to ensure that all pricing of construction projects are of the same standard.
These consist of guidance and a set of rules for the basis of measurement, to ensure that the same items are included (or excluded) in each rate, so that costs for that element can be accurately applied.
Name a number of sources of cost data
Spons + Legacy Projects
What is prime cost?
The Unit rate
What is dayworks?
When works cant be measured in a normal way and so have to be priced based on labour, plant and OHP.
How would you price an estimate at RIBA Stage 1?
m2 based on the GIFA or on functional units
How would you price an estimate at RIBA Stage 2-4?
More concise measures using dimension etc
What is a GIFA?
Internal part of the building to the internal perimeter wall
What is a GEA?
All areas outside the building
What is the difference between NRM1 & NRM2?
- NRM 1 utilises unit rates - should include the cost of all materials, labour and plant that are specifically required to construct the item. Costs are also to include any subcontractors’ on costs
- NRM2 - more detailed, costed and broken down in detail. E.g. finishing, formwork, reinforcement types all split out
Outline valuation process
-Pre val - Checking due dates
-Pre Val - Review programme, cash flow, take offs
-On site assessment - walkround with contractor do not need to agree val
-Valuation - review documents one last time and issue documents
-Post val - reporting
Outline Valuation timeline
-Contractor submits interim valuation on or before the due date
- 1 week after the due date, assessment take places
-2 weeks after is last day for pay less
-3 weeks Is payment
How is a valuation calculated under Option A
PWDD for fully complete activities + CEs - retention
How do you benchmark?
Why is it important to measure the works according to industry standards and best practice?
-To provide consistency and greater accuracy of pricing.
-To ensure that all parties price on the same basis and therefore reduce the risk of dispute
What is IPMS and what is its Purpose?
International Property Measurement Standards - IPMS All Buildings supersedes all previously published IPMS standards for individual asset classes by utilising the concepts and objectives contained in those specific versions of IPMS into one harmonised standard
What is a defined Prov Sum
A Provisional sums which have been described in sufficient detail that the contractor is expected to have made allowance for them in their programming, planning and pricing preliminaries.
What is an undefined prov sum
A Provisional sum which has not been described in enough detail so the contractor is not expected to allow for programming and prelims.
How do cost managers help control design by keeping it in budget?
- Explain budget and issues
- Regular Risk reviews
- Explain how design will impact the cost plan
- contribute to VE
Why is VAT excluded from Cost estimates/
Clients suffer different levels of VAT
What is OH&P
- Overheads - contractors cost of doing business i.e head office expenses & marketing
-Profit - money the project makes after accounting all expenses
What effects OH&P
-Project Location
-Project type and value
- Market Conditions
Provisional Sum?
General allowance or estimate for an item a client may or may not want
Provisional Sum expended under JCT?
-Issue and instruction for its release
- If included in a contract the Provsum should be omitted and replaced with the real cost
What is inflation
-NRM 1 states it is an upward movement in the average level of prices and or cost
Types of inflation
Tender and construction
Tender Inflation
-Allowance included in a cost plan to account for fluctuations in labour,materials, plant and equipment.
-Period of estimate date to tender return
Construction Inflation
-Allowance included in a cost plan to account for fluctuations in labour,materials, plant and equipment.
-Period of tender return to mid construction point
What does TPI show?
Agreed prices between clients and contractors
Functional unit?
- NRM 1 - a unit of measurement used to represent the use of a building
-Nr of beds
-Nr of Seats
What is life cycle costing
-Life cycle costing includes costs directly associated with constructing and operating the building.
-Informs early design decisions which may be costly upfront but more cost effective overall
What is Whole life costing
- Incorporates all costs over the life of a building, including capital construction costs, maintenance, cleaning, energy costs, and lifecycle replacement.
-Informs early design decisions which may be costly upfront but more cost effective overall
Advantages of LCC & WLC?
-Process promotes durability, reduced maintenance, fewer risks, operational efficiency and increased lifespan
-Informs early design decisions which may be costly upfront but more cost effective overall
Disadvantages of LCC & WLC?
-Components not always replaced at the end of life due to style changes and regs
-Cost associated with poor workmanship cant be predicted
