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  • Cost Planning at A Glance

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    aqueeleng
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    - Carry out cost planning during the design stage to keep the project within the allocated budget. There are two main methods: elemental and comparative. - Using the elemental method, preliminary cost estimates are prepared using unit rates and other cost data. As design develops through scheme design and detail design, cost checks are done based on quantities and specifications. - Risks like future legislation changes and authority fees are noted, and contingencies of 10-15% are included. Inflation is also accounted for using various methods. Land costs, fees and litigation costs are excluded from cost planning. Consultancy fees are around 3-7% of construction costs.

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    Cost Planning

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    Cost Planning @ a Glance

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    - Carry out cost planning during the design stage to keep the project within the allocated budget. There are two main methods: elemental and comparative. - Using the elemental method, preliminary cost estimates are prepared using unit rates and other cost data. As design develops through scheme design and detail design, cost checks are done based on quantities and specifications. - Risks like future legislation changes and authority fees are noted, and contingencies of 10-15% are included. Inflation is also accounted for using various methods. Land costs, fees and litigation costs are excluded from cost planning. Consultancy fees are around 3-7% of construction costs.

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    19 views1 page

    Cost Planning at A Glance

    Uploaded by

    aqueeleng
    - Carry out cost planning during the design stage to keep the project within the allocated budget. There are two main methods: elemental and comparative. - Using the elemental method, preliminary cost estimates are prepared using unit rates and other cost data. As design develops through scheme design and detail design, cost checks are done based on quantities and specifications. - Risks like future legislation changes and authority fees are noted, and contingencies of 10-15% are included. Inflation is also accounted for using various methods. Land costs, fees and litigation costs are excluded from cost planning. Consultancy fees are around 3-7% of construction costs.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    of 1

    CostPlanning@aGlance(aneasywaytoremember)

    *CarryoutduringDesignStage(PreContractStage)
    *SystematicApproachtokeeptheprojectwithin'AllocatedBudget'
    *Mainlythereare2methods;Elemental&ComparativeMethod

    UsingElementalMethod
    *AsperRIBAplanofwork;
    Incept'n Feasibility OutlineProposal SchemeDesign DetailDesign etc.

    OutlineCostPlan(Using
    FinalCostChecking
    PreliminaryCost CostAnalysis&OtherCost WhenDesignimproves,Specification&
    (KnownasEngineer's
    Estimate Data(currentmarket Drawingsaredeveloped.Then;
    Estimation)
    rate),etc.)

    UnitMethod CostCheck basedonQTY&Spec.


    CubeMethod Substructure KeepCostLimitswithinelements
    SuperficialMethod Superstructure
    ElementalMethod,etc. Finishes
    Fittings&Fixtures,etc.

    PrepareCostLimits(Cost
    DetailedCostPlan/Reduce%of
    Targets),Include
    FixBudget contingenciessinceaccuracyofthe FinalCostPlan
    Contingenciesforthe
    information(QTY&Spec.)
    elements1015%

    *GiveRiskRegisterCostPlanispreparedbasedonwhichinformation,NotconsideranyfutureLegislationChanges&AuthorityFees,etc.
    n
    *IncludeInflationTherearefewMethods;(a)Indices(b)Inf.Amount=(1+i) 1(c)Contingencies(Note:'a'isnotpracticingUAE)
    *ExclusionsLandCost,AuthorityFeesandanyCostduetoLitigationchanges,etc.
    *ConsultancyFeeApp.37%fromtheConstructionCosts

    Page 1 of 1 Cost Planning @ a Glance

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