1.5 Cost Planning Adjustments

Question 1

What are the main factors which can affect the cost of a construction project?

Answer 1

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Question 2

How might location affect the cost of a construction project?

Answer 2

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Question 3

Explain how the geographical location can affect the cost of a construction project.

Answer 3

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Question 4

Explain how the nature of the project location can affect the cost of a construction project (e.g. urban v rural).

Answer 4

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Question 5

What are the 5 constituent elements of cost that is affected by location?

Answer 5

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Question 6

How might labour costs be affected by location?

Answer 6

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Question 7

How might plant costs be affected by location?

Answer 7

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Question 8

How might material costs be affected by location?

Answer 8

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Question 9

How might preliminary costs be affected by location?

Answer 9

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Question 10

How might OH&P costs be affected by location?

Answer 10

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Question 11

Give an example of additional preliminary items that would be additional in a city centre compared to rural?

Answer 11

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Question 12

Explain the cost implications in relation to building on an open site as opposed to a restricted site?

Answer 12

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Question 13

How might the nature of the building affect the cost of a construction project?

Answer 13

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Question 14

Explain how room sizes might affect the cost of construction.

Answer 14

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Question 15

Explain how consideration to lettable / non-lettable space may impact on the cost of construction.

Answer 15

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Question 16

Explain by referring to the elemental categories how the nature of a building can affect the cost of a construction project.

Answer 16

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Question 17

How might plan shapes affect the cost of a construction project?

Answer 17

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Question 18

Explain by referring to the elemental categories how the plan shape of a building can affect the cost of a construction project.

Answer 18

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Question 19

How might height affect the cost of a construction project?

Answer 19

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Question 20

Explain what the wall to floor ratio is and how to work it out. How is this useful in assessing the cost efficiency of a building?

Answer 20

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Question 21

Explain by referring to the elemental categories how the height of a building can affect the cost of a construction project.

Answer 21

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Question 22

How might specification affect the cost of a construction project?

Answer 22

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Question 23

Can you give some examples of different specifications of the same element (e.g. floor finishes internal partitions) and their associated costs?

Answer 23

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Question 24

In terms of specification compare the cost of the elements of a school and a hospital?

Answer 24

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Question 25

Explain how market forces can affect the cost of construction projects. Give some specific examples.

Answer 25

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Question 26

What might be the implications of Brexit?

Answer 26

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Question 27

Where do you think the market is going?

Answer 27

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Question 28

How do interest rates affect the construction industry?

Answer 28

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Question 29

What factors might affect the difference in OH&P?

Answer 29

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Question 30

What indices do you use to adjust for location in a cost estimate or cost plan?

Answer 30

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Question 31

What indices are available in preparing a cost plan/estimate? Where would you look for them?

Answer 31

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Question 32

What is TPI and how would you use it in your estimate?

Answer 32

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Question 33

What is BCI and how would you use it in your estimate?

Answer 33

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Question 34

What is the difference between the Tender Price Index and Building Cost Index?

Answer 34

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Question 35

What factors does TPI include compared to construction inflation?

Answer 35

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Question 36

How has TPI changed over the last 12 months?

Answer 36

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Question 37

In what two instances would you apply TPI in an estimate?

Answer 37

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Question 38

How do you update for construction costs?

Answer 38

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Question 39

Would the cost plan be adjusted for different parts of the country and why?

Answer 39

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Question 40

How does the length of the construction period affect the cost of the project?

Answer 40

1.6