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NRM Cost Definitions
Description
Construction Technology and environmental services T013 Mind Map on NRM Cost Definitions, created by alison_patey0437 on 27/04/2013.
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construction technology and environmental services t013
construction technology and environmental services t013
Mind Map by
alison_patey0437
, updated more than 1 year ago
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Created by
alison_patey0437
over 11 years ago
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Resource summary
NRM Cost Definitions
Authorised budget
approved estimate value
Base date of cost data
date of the rates/prices taken 4 benchmarking for a basis for caluclations
Base cost estimate
estimate without risk or inflation
building works
Componants measured + incorporated in 2 elements 1 2 8 (substructure/superstructure etc).
building work estimate
sum of cost target for elements 1 to 8
component
measured item that forms a part of an element
construction inflation
allowance in OofC/CP for fluctuations in plant/labour/materials from date of tender return to mid-point of construction period.
cost check
comparing current est. costs against previous cost targets for elements + sub elements
cost per functional unit
unit rate X no.functional units = building works est. (exc prelims; OH&P)
£/m2 or GIFA
unit rate when X by GIFA = total building works est (exc. Prelim & OH&P)
cost target
recommended total expenditure for an element
Deflation
downward movement of av level prices and/or costs
element
maj part of a group element e.g. wall finishes
Element Unit Quantity (EUQ)
unit of measurement that relates soley to quant of the element or sub element e.g. area of ext walls or area of windows
Element unit rate (EUR)
total cost of an element/ EUQ
e.g. EUR of ext wall = total cost 4 ext walls/ EUQ of ext walls
inc. cost for materials/labour/plant/prelims/OH&P
EUR can Exclude prelim/OH&P/& other allowances such as risk
Element cost plan
breakdown of cost limit into target costs of each element
shows distribution of cost amongst elements
provides work breakdown structure (WBS) and cost breakdown structure (CBS) which helps for work packages
Elemental Cost analysis
full apraisal of costs in prev constructed bdg - provide info 2 assit in estimating costs of future bdgs.
use as a basis for cost elemental cost plans
Elemental Method
budget setting technique
OofC based on an elemental B.down of a bdg project. uses element unit quantities (EUQ) and element unit rates (EQR)
Employer
owner/dev
Enabling works
work completed ahead of main building contract
e.g. demos/cont land rem/soil stablisation
Estimate Base date
date cost ,lmit est
helps with calc of inflation
Facilitating works
component in group 0
e.g. demos/ soil stabilisation
Facilitating works Estimate
costs of group 0
exc. bdg wks est./ prelims/OH&P
Facilitating works & Building Works estimate
cost target of grps 0 to 8
Exc. prelims/OH&P
Formal cost plan
elemental cost plan reported to emp on completion of a specific RIBA Work Stage/ OGC Gateway
Functional Unit
unit of measurement used to represent the prime use of the building e.g. hospital bed/hotel bed/school pupil
Functional unit method
budget setting tech - selecting a functional unit X projected no, of units by an appropriate cost/ functional unit
Gross External Area (GEA)
Area of the bdg measured externally (ext face of perim walls) at each floor levell
Gross Internal Floor Area (GIFA)
Area of bdg measured 2 internal face of perimeter walll @ each floor level
Group Element
heading used 2 describe facets of elemental cost plan e.g. substructure
Inflation
upward movement of av. prices or costs
Main Contractor (MC)
MC respon 4 total construction and completion process of the building projj.
Named a Prime contractor in Public sector/defense projects
MC OH&P
Assoc with head office admin proportioned to each contract plus MC return on capital investment
Excl. subbies OH&P as its included in unit rates
MC Preliminaries
Items that cannot be allocated to a specific element
Inc. e.g. temp services; site staff; site est.
Net Internal Area (NIA)
Usuable area within a bdg measured to int face of perim walls @ each floor level
OGC Gateways
key decision pts wihtin the OGC gateway process
OGC Gateway process
process of examin programmes + proj @ key decision pts in LC
Look ahead 2 provide assurance that emp. can progress 2 nxt stage
OGC Gateway 1 to 5
normally 3 reviews before commit 2 invest
Public procurement
emphasis 2 exam business case which req. assessment of the total dev. cost of bdg.
Option Costs
est. of cost for various design solutions
Order of Cost Estimate (OofC)
determine possible cost of bdg in early design stage
Prime Cost Sum
sum of money included in a unit rate 2 b expended on mat/goods from suppliers
e.g. supply only ceramic tiles/ furniture etc.
excl. fixing/install/ancillary/sundry materials or MC/subbies design fees,prelims, OH&P
Residual risk
risk retained by emp.
Retail Area
NIA for retail
RIBA Plan Of Work
procedure dealing with steps in decision making.
identifies responsibilities of design team @ each stage
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