Quantification and Costing Flashcards
(37 cards)
Why did you choose a Schedule of Works for Central Annexe?
T - Quicker to produce, dont take off measures
C - Cheaper to produce, cost certainty based on design at tender
Q - Works simple in nature, didn’t require that level of detail
R - Risk with MC as they provide measures
+/- BoQ
+ Simplifies tender analysis
+ Saves time and cost of contractors measuring
+ Better for valuations and variations
- Client takes risk if wrong
- Takes longer to produce
- More costly
NRM1 - Brief overview
Order of cost estimating and cost planning for capital building works
Guidance on quantification of buildings works for preparing cost estimates and cost plans
NRM2 - Brief Overview
Detailed measurement for building works
For BoQ and Quantified SoW
NRM3 - Brief Overview
Order of cost estimating and cost planning for building maintenance works
Guidance on quantification and description of maintenance works for preparing initial estimates
What is BoQ
- Breaks down works into exact quants measured in indutstry wide format (NRM 2)
- Includes all components
- Based on mature drawings
- Contractors insert rates
- Can be used for cost control
Schedule of Rates
- List setting out staff, labour and plant hire rates that contractor will use for pricing the works
On a larger scale - When nature of work is known but cannot be quantified
- or continuity of programme cannot be determined
+/- of SoR
Adv
* 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 contractor
Dis
- Additional resource to measure
- No final price when committing
- Contractors may be tempted to front load (in case later work doesnt materialise)
What is SoW
- Lists the works required on a project
- References the requirements included in the specifications and contract drawings
- Plus any additional ‘builders work’ items
Contract sum analysis and disadvantages
Mainly used in D&B, less detail than SoW
* Alternative pricing document
* Standard format
* Employers Agent creates to support the tender returns review
Dis
* Less detailed (one item vs multiple in SoW)
* Not suitable for valuations
NRM1 Group Elements
Facilitating
Substructure
Superstructure
Internal Finishes
FFE
Services
Pre Fab Building units
Work to existing buildings
Prelims
OH+P
What is a functional unit and how would you use this for cost planning?
Unit rate when multiplied by number of functional units gives total building works estimate
Minus prelims and ohp
Nrm1
How would you account for VAT in a cost plan?
VAT would be omitted as differing clients may get different rates applied (NRM)
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?
Central Annexe - CSA
E.g. lump sum, how is this proportioned to all works (piling) - had csa on job and no breakdown, had to agree suitable split
Give some examples of measured works on your projects and how you valued them?
Associated with BoQ - measuring carpet
Why do we carry out valuations on construction contracts?
- Increase cost certainty
- Check against contractors application
- Ensure works are progressing
If the client is hoping for a quick pre-tender programme, what pricing document would you advise?
Schedule of Works
How can works be costed
Lump Sum
Cost Reimbursable
Re-measurement
Target Cost
Guaranteed Max Price
Lump Sum
- Cost agreed at start of project. Can only be altered by formal variations.
- Use when - Have detailed design (complex work)
Cost Reimbursable (Cost Plus)
- Contarctor payed actual cost + agreed fee (OH+P)
- Use when scope is not properly defined and SOS is urgent (Emergency)
Re-measurement
- Costed using schedule of rates or approx boq and detailed measurment at each valuation.
- Use when scope of works can be described in detail but the quantities cannot (Maintenance)
Target Cost
- Hybrid of cost reiumbursable and lump sum
- Agree a price for the works
- Subtract the actual cost and split the saving or uplift (pain and gain).
What is a base cost estimate
Everything included but no risk, uncertianity or inflation.
On your project, can you explain how you prepared the schedule of works?
- 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
