Construction costs - Revision history

Editor: Reverted edits by Moazahmad71 (talk) to last revision by Designing Buildings

2023-02-14T08:04:14Z

Reverted edits by Moazahmad71 (talk) to last revision by Designing Buildings

← Older revision		Revision as of 08:04, 14 February 2023
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−	[[File:Money-~~g42c1024da_1280.jpg\|link=File:Money-g42c1024da_1280~~.jpg]]	+	[[File:Money-g42c1024da 1280.jpg]]

	= Introduction =		= Introduction =
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	NB [https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/61157/Procurement-and-Lean-Client-Group-Final-Report-v2.pdf Government Construction Strategy, Final Report to Government by the Procurement/Lean Client Task Group], published in July 2012 states: ‘Construction Costs are defined as total project capital costs including related front end project initiation / development costs - such as consultancy and supply chain fees - but excluding land purchase and in use operational expenditure (which is not to disregard whole life cycle costs that are addressed by specific actions within the GCS but to acknowledge the challenges involved in validating the realisation of whole life cycle based efficiency savings before the end of the current parliament).’		NB [https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/61157/Procurement-and-Lean-Client-Group-Final-Report-v2.pdf Government Construction Strategy, Final Report to Government by the Procurement/Lean Client Task Group], published in July 2012 states: ‘Construction Costs are defined as total project capital costs including related front end project initiation / development costs - such as consultancy and supply chain fees - but excluding land purchase and in use operational expenditure (which is not to disregard whole life cycle costs that are addressed by specific actions within the GCS but to acknowledge the challenges involved in validating the realisation of whole life cycle based efficiency savings before the end of the current parliament).’

−	[https://www.rics.org/uk/upholding-professional-standards/sector-standards/construction/icms3/ ICMS: Global Consistency in Presenting Construction Life Cycle Costs and Carbon Emissions, 3rd edition], November 2021, published by the ICMS (International Cost Management Standard) Coalition, defines ~~[https://biddingestimating.com/how-to-calculate-construction-cost-per-square-foot/~~ construction costs] as: ‘Expenditures incurred as a direct result of construction including labour, materials, plant, equipment, site and head office overheads and profits as well as taxes and levies. They are the total price payable for all permanent and temporary works normally included in construction contracts, including goods or materials supplied by the Client for the Constructor to install.’	+	[https://www.rics.org/uk/upholding-professional-standards/sector-standards/construction/icms3/ ICMS: Global Consistency in Presenting Construction Life Cycle Costs and Carbon Emissions, 3rd edition], November 2021, published by the ICMS (International Cost Management Standard) Coalition, defines construction costs as: ‘Expenditures incurred as a direct result of construction including labour, materials, plant, equipment, site and head office overheads and profits as well as taxes and levies. They are the total price payable for all permanent and temporary works normally included in construction contracts, including goods or materials supplied by the Client for the Constructor to install.’

	= Related articles on Designing Buildings =		= Related articles on Designing Buildings =

Moazahmad71 at 07:26, 14 February 2023

2023-02-14T07:26:50Z

← Older revision		Revision as of 07:26, 14 February 2023
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−	[[File:Money-~~g42c1024da 1280~~.jpg]]	+	[[File:Money-g42c1024da_1280.jpg\|link=File:Money-g42c1024da_1280.jpg]]

	= Introduction =		= Introduction =
Line 116:		Line 116:
	NB [https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/61157/Procurement-and-Lean-Client-Group-Final-Report-v2.pdf Government Construction Strategy, Final Report to Government by the Procurement/Lean Client Task Group], published in July 2012 states: ‘Construction Costs are defined as total project capital costs including related front end project initiation / development costs - such as consultancy and supply chain fees - but excluding land purchase and in use operational expenditure (which is not to disregard whole life cycle costs that are addressed by specific actions within the GCS but to acknowledge the challenges involved in validating the realisation of whole life cycle based efficiency savings before the end of the current parliament).’		NB [https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/61157/Procurement-and-Lean-Client-Group-Final-Report-v2.pdf Government Construction Strategy, Final Report to Government by the Procurement/Lean Client Task Group], published in July 2012 states: ‘Construction Costs are defined as total project capital costs including related front end project initiation / development costs - such as consultancy and supply chain fees - but excluding land purchase and in use operational expenditure (which is not to disregard whole life cycle costs that are addressed by specific actions within the GCS but to acknowledge the challenges involved in validating the realisation of whole life cycle based efficiency savings before the end of the current parliament).’

−	[https://www.rics.org/uk/upholding-professional-standards/sector-standards/construction/icms3/ ICMS: Global Consistency in Presenting Construction Life Cycle Costs and Carbon Emissions, 3rd edition], November 2021, published by the ICMS (International Cost Management Standard) Coalition, defines construction costs as: ‘Expenditures incurred as a direct result of construction including labour, materials, plant, equipment, site and head office overheads and profits as well as taxes and levies. They are the total price payable for all permanent and temporary works normally included in construction contracts, including goods or materials supplied by the Client for the Constructor to install.’	+	[https://www.rics.org/uk/upholding-professional-standards/sector-standards/construction/icms3/ ICMS: Global Consistency in Presenting Construction Life Cycle Costs and Carbon Emissions, 3rd edition], November 2021, published by the ICMS (International Cost Management Standard) Coalition, defines [https://biddingestimating.com/how-to-calculate-construction-cost-per-square-foot/ construction costs] as: ‘Expenditures incurred as a direct result of construction including labour, materials, plant, equipment, site and head office overheads and profits as well as taxes and levies. They are the total price payable for all permanent and temporary works normally included in construction contracts, including goods or materials supplied by the Client for the Constructor to install.’

	= Related articles on Designing Buildings =		= Related articles on Designing Buildings =

Designing Buildings at 09:04, 26 January 2023

2023-01-26T09:04:13Z

← Older revision		Revision as of 09:04, 26 January 2023
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		+	[[File:Money-g42c1024da 1280.jpg]]
		+
	= Introduction =		= Introduction =

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	NB [https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/61157/Procurement-and-Lean-Client-Group-Final-Report-v2.pdf Government Construction Strategy, Final Report to Government by the Procurement/Lean Client Task Group], published in July 2012 states: ‘Construction Costs are defined as total project capital costs including related front end project initiation / development costs - such as consultancy and supply chain fees - but excluding land purchase and in use operational expenditure (which is not to disregard whole life cycle costs that are addressed by specific actions within the GCS but to acknowledge the challenges involved in validating the realisation of whole life cycle based efficiency savings before the end of the current parliament).’		NB [https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/61157/Procurement-and-Lean-Client-Group-Final-Report-v2.pdf Government Construction Strategy, Final Report to Government by the Procurement/Lean Client Task Group], published in July 2012 states: ‘Construction Costs are defined as total project capital costs including related front end project initiation / development costs - such as consultancy and supply chain fees - but excluding land purchase and in use operational expenditure (which is not to disregard whole life cycle costs that are addressed by specific actions within the GCS but to acknowledge the challenges involved in validating the realisation of whole life cycle based efficiency savings before the end of the current parliament).’
		+
		+	[https://www.rics.org/uk/upholding-professional-standards/sector-standards/construction/icms3/ ICMS: Global Consistency in Presenting Construction Life Cycle Costs and Carbon Emissions, 3rd edition], November 2021, published by the ICMS (International Cost Management Standard) Coalition, defines construction costs as: ‘Expenditures incurred as a direct result of construction including labour, materials, plant, equipment, site and head office overheads and profits as well as taxes and levies. They are the total price payable for all permanent and temporary works normally included in construction contracts, including goods or materials supplied by the Client for the Constructor to install.’

	= Related articles on Designing Buildings =		= Related articles on Designing Buildings =

Nvzahid at 14:48, 11 October 2022

2022-10-11T14:48:14Z

← Older revision		Revision as of 14:48, 11 October 2022
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	The approximate quantities cost plan is a first attempt to measure defined quantities from drawings (or to take them off from a building information model). It presents a more accurate picture of where costs are distributed, in particular it draws the attention of designers to those elements of the design that are standard and those that are not and as a consequence may be more expensive.		The approximate quantities cost plan is a first attempt to measure defined quantities from drawings (or to take them off from a building information model). It presents a more accurate picture of where costs are distributed, in particular it draws the attention of designers to those elements of the design that are standard and those that are not and as a consequence may be more expensive.

−	The pre-tender estimate (PTE) is the final estimate of the likely cost of the works that are described in completed tender documents. It provides a final comparison with the budget, and along with a cash flow estimate enables the client to confirm that sufficient funds ~~area~~ available before committing to seeking tenders. It also gives a basis for assessing and comparing tenders when they are returned.	+	The pre-tender estimate (PTE) is the final estimate of the likely cost of the works that are described in completed tender documents. It provides a final comparison with the budget, and along with a cash flow estimate enables the client to confirm that sufficient funds are available before committing to seeking tenders. It also gives a basis for assessing and comparing tenders when they are returned.

	The contract sum provides the first actual confirmed price. Up to this point, all cost planning has been based on estimates. A bill of quantities is issued to tendering contractors for them to prepare a price for carrying out the works. The bill of quantities assists tenderers in the calculation of construction costs for their tender, and, as it means all tendering contractors will be pricing the same quantities (rather than taking-off quantities from the drawings and specifications themselves), it also provides a fair and accurate system for tendering.		The contract sum provides the first actual confirmed price. Up to this point, all cost planning has been based on estimates. A bill of quantities is issued to tendering contractors for them to prepare a price for carrying out the works. The bill of quantities assists tenderers in the calculation of construction costs for their tender, and, as it means all tendering contractors will be pricing the same quantities (rather than taking-off quantities from the drawings and specifications themselves), it also provides a fair and accurate system for tendering.

46.114.179.248: Undo revision 237665 by [[Special:Contributions/[IP address hidden]|[IP address hidden]]] ([[User talk:[IP address hidden]|talk]])

2022-08-29T04:47:09Z

Undo revision 237665 by [[Special:Contributions/[IP address hidden]|[IP address hidden]]] ([[User talk:[IP address hidden]|talk]])

← Older revision		Revision as of 04:47, 29 August 2022
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	* Sunk cost.		* Sunk cost.
	* Utilising life cycle costing and life cycle assessment.		* Utilising life cycle costing and life cycle assessment.
−	* Whole life costs. v	+	* Whole life costs.

	[[Category:DCN_Definition]] [[Category:DCN_Guidance]] [[Category:Cost_/_business_planning]]		[[Category:DCN_Definition]] [[Category:DCN_Guidance]] [[Category:Cost_/_business_planning]]

111.90.194.158 at 03:50, 29 August 2022

2022-08-29T03:50:00Z

← Older revision		Revision as of 03:50, 29 August 2022
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	* Sunk cost.		* Sunk cost.
	* Utilising life cycle costing and life cycle assessment.		* Utilising life cycle costing and life cycle assessment.
−	* Whole life costs.	+	* Whole life costs. v

	[[Category:DCN_Definition]] [[Category:DCN_Guidance]] [[Category:Cost_/_business_planning]]		[[Category:DCN_Definition]] [[Category:DCN_Guidance]] [[Category:Cost_/_business_planning]]

Designing Buildings at 10:35, 12 November 2021

2021-11-12T10:35:16Z

← Older revision		Revision as of 10:35, 12 November 2021
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−	~~[[File:Money.jpg]]~~
−
	= Introduction =		= Introduction =

Designing Buildings at 10:21, 12 November 2021

2021-11-12T10:21:54Z

← Older revision		Revision as of 10:21, 12 November 2021
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−	[[File:~~Costing290.jpg\|link=File:Costing290~~.jpg]]	+	[[File:Money.jpg]]

	= Introduction =		= Introduction =
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	For more information, see Hard costs v soft costs.		For more information, see Hard costs v soft costs.
−
−	~~[[File:DBWCTA_C_link_cost_estimating_tool.jpg\|link=https://hubs.la/H0Vf74v0]]~~

	NB [https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/61157/Procurement-and-Lean-Client-Group-Final-Report-v2.pdf Government Construction Strategy, Final Report to Government by the Procurement/Lean Client Task Group], published in July 2012 states: ‘Construction Costs are defined as total project capital costs including related front end project initiation / development costs - such as consultancy and supply chain fees - but excluding land purchase and in use operational expenditure (which is not to disregard whole life cycle costs that are addressed by specific actions within the GCS but to acknowledge the challenges involved in validating the realisation of whole life cycle based efficiency savings before the end of the current parliament).’		NB [https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/61157/Procurement-and-Lean-Client-Group-Final-Report-v2.pdf Government Construction Strategy, Final Report to Government by the Procurement/Lean Client Task Group], published in July 2012 states: ‘Construction Costs are defined as total project capital costs including related front end project initiation / development costs - such as consultancy and supply chain fees - but excluding land purchase and in use operational expenditure (which is not to disregard whole life cycle costs that are addressed by specific actions within the GCS but to acknowledge the challenges involved in validating the realisation of whole life cycle based efficiency savings before the end of the current parliament).’

−	= Related articles on Designing Buildings ~~Wiki~~ =	+	= Related articles on Designing Buildings =

	* Accounting.		* Accounting.

Designing Buildings at 10:39, 2 November 2021

2021-11-02T10:39:27Z

← Older revision		Revision as of 10:39, 2 November 2021
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	For more information, see Hard costs v soft costs.		For more information, see Hard costs v soft costs.

−	[[File:~~DBWCTA C link cost estimating tool~~.jpg\|link=https://hubs.la/H0Vf74v0]]	+	[[File:DBWCTA_C_link_cost_estimating_tool.jpg\|link=https://hubs.la/H0Vf74v0]]
		+
		+	NB [https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/61157/Procurement-and-Lean-Client-Group-Final-Report-v2.pdf Government Construction Strategy, Final Report to Government by the Procurement/Lean Client Task Group], published in July 2012 states: ‘Construction Costs are defined as total project capital costs including related front end project initiation / development costs - such as consultancy and supply chain fees - but excluding land purchase and in use operational expenditure (which is not to disregard whole life cycle costs that are addressed by specific actions within the GCS but to acknowledge the challenges involved in validating the realisation of whole life cycle based efficiency savings before the end of the current parliament).’

	= Related articles on Designing Buildings Wiki =		= Related articles on Designing Buildings Wiki =

Designing Buildings at 10:18, 15 August 2021

2021-08-15T10:18:44Z

← Older revision		Revision as of 10:18, 15 August 2021
Line 113:		Line 113:

	For more information, see Hard costs v soft costs.		For more information, see Hard costs v soft costs.
		+
		+	[[File:DBWCTA C link cost estimating tool.jpg\|link=https://hubs.la/H0Vf74v0]]

	= Related articles on Designing Buildings Wiki =		= Related articles on Designing Buildings Wiki =