Budgets for projects should be set as early as possible.
A budget can be established by:
- Assessment of projected income and expenses through the life of the project.
- Comparison with similar projects.
- Assessment of the funds available.
- Pre-design analysis of requirements.
- Analysis of preliminary design options.
The client's total project budget may include:
- The construction cost.
- Land or property acquisition.
- Approvals fees.
- Planning costs (Section 106 Agreement or Community Infrastructure Levy).
- Financing costs.
- Site investigations.
- Fixtures, fittings and equipment.
- The cost of decanting and relocating, including costs associated with moving staff.
- Contracts outside of the main works.
- Consultant fees.
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Related articles on Designing Buildings Wiki
- Approximate quantities cost plan.
- Bills of quantities.
- Business plan.
- Capital allowances.
- Common arrangement of work sections.
- Contract sum.
- Contract sum analysis.
- Cost consultant.
- Elemental cost plan
- Final account.
- Initial cost appraisals
- New Rules of Measurement.
- Pre-tender estimate.
- Tender pricing document
- Whole-life costs.