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