Cost information - Revision history

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

2023-06-13T12:54:58Z

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

← Older revision		Revision as of 12:54, 13 June 2023
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	In the construction industry the term ‘cost’ generally refers to the amount that has to (or will have to) be paid to receive goods or services. Different types of cost include capital costs, construction costs, operational costs, whole-life costs, environmental costs, social costs and so on.		In the construction industry the term ‘cost’ generally refers to the amount that has to (or will have to) be paid to receive goods or services. Different types of cost include capital costs, construction costs, operational costs, whole-life costs, environmental costs, social costs and so on.

−	~~[https://www.cresireconsulting.com/services/5d-bim-construction-cost-estimation-services/~~ Cost information] is an important element across several activities that are involved in cost engineering (the practice of managing costs involved on a construction project), such as cost control, budgeting, forecasting, estimating, investment appraisal and risk analysis. It is also used to help measure profit margins, value assets and make decisions.	+	Cost information is an important element across several activities that are involved in cost engineering (the practice of managing costs involved on a construction project), such as cost control, budgeting, forecasting, estimating, investment appraisal and risk analysis. It is also used to help measure profit margins, value assets and make decisions.

	The type of cost information will depend on the particular type of costs that are being managed.		The type of cost information will depend on the particular type of costs that are being managed.

Cresire at 12:30, 13 June 2023

2023-06-13T12:30:58Z

← Older revision		Revision as of 12:30, 13 June 2023
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	In the construction industry the term ‘cost’ generally refers to the amount that has to (or will have to) be paid to receive goods or services. Different types of cost include capital costs, construction costs, operational costs, whole-life costs, environmental costs, social costs and so on.		In the construction industry the term ‘cost’ generally refers to the amount that has to (or will have to) be paid to receive goods or services. Different types of cost include capital costs, construction costs, operational costs, whole-life costs, environmental costs, social costs and so on.

−	Cost information is an important element across several activities that are involved in cost engineering (the practice of managing costs involved on a construction project), such as cost control, budgeting, forecasting, estimating, investment appraisal and risk analysis. It is also used to help measure profit margins, value assets and make decisions.	+	[https://www.cresireconsulting.com/services/5d-bim-construction-cost-estimation-services/ Cost information] is an important element across several activities that are involved in cost engineering (the practice of managing costs involved on a construction project), such as cost control, budgeting, forecasting, estimating, investment appraisal and risk analysis. It is also used to help measure profit margins, value assets and make decisions.

	The type of cost information will depend on the particular type of costs that are being managed.		The type of cost information will depend on the particular type of costs that are being managed.

Designing Buildings at 07:57, 23 October 2020

2020-10-23T07:57:51Z

← Older revision		Revision as of 07:57, 23 October 2020
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	* Whole-life costs.		* Whole-life costs.

−	[[Category:Cost_/_business_planning]] [[Category:Procurement]]	+	[[Category:DCN_Definition]] [[Category:DCN_Guidance]] [[Category:Cost_/_business_planning]] [[Category:Procurement]]

Designing Buildings at 07:21, 2 December 2019

2019-12-02T07:21:03Z

← Older revision		Revision as of 07:21, 2 December 2019
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	For more information see: BCIS		For more information see: BCIS
		+
		+	NB The [https://www.ribaplanofwork.com/Help/Glossary.aspx RIBA Plan of Work 2013] defines cost information as: 'All of the project costs, including the cost estimate and life cycle costs where required.'

	= Related articles on Designing Buildings Wiki =		= Related articles on Designing Buildings Wiki =
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	* Overheads.		* Overheads.
	* Price.		* Price.
−	* [[Spon~~%27s_Price_Book\|Spon’s~~ Price Book.]]	+	* Spon's Price Book.
	* Whole-life costs.		* Whole-life costs.

	[[Category:Cost_/_business_planning]] [[Category:Procurement]]		[[Category:Cost_/_business_planning]] [[Category:Procurement]]

Designing Buildings: Reverted edits by 203.221.135.36 (talk) to last revision by Editor

2019-07-31T06:03:48Z

Reverted edits by 203.221.135.36 (talk) to last revision by Editor

← Older revision		Revision as of 06:03, 31 July 2019
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	In the construction industry the term ‘cost’ generally refers to the amount that has to (or will have to) be paid to receive goods or services. Different types of cost include capital costs, construction costs, operational costs, whole-life costs, environmental costs, social costs and so on.		In the construction industry the term ‘cost’ generally refers to the amount that has to (or will have to) be paid to receive goods or services. Different types of cost include capital costs, construction costs, operational costs, whole-life costs, environmental costs, social costs and so on.
−
−	~~Manly Sea Eagles are the best!~~

	Cost information is an important element across several activities that are involved in cost engineering (the practice of managing costs involved on a construction project), such as cost control, budgeting, forecasting, estimating, investment appraisal and risk analysis. It is also used to help measure profit margins, value assets and make decisions.		Cost information is an important element across several activities that are involved in cost engineering (the practice of managing costs involved on a construction project), such as cost control, budgeting, forecasting, estimating, investment appraisal and risk analysis. It is also used to help measure profit margins, value assets and make decisions.

203.221.135.36 at 00:28, 31 July 2019

2019-07-31T00:28:02Z

← Older revision		Revision as of 00:28, 31 July 2019
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	In the construction industry the term ‘cost’ generally refers to the amount that has to (or will have to) be paid to receive goods or services. Different types of cost include capital costs, construction costs, operational costs, whole-life costs, environmental costs, social costs and so on.		In the construction industry the term ‘cost’ generally refers to the amount that has to (or will have to) be paid to receive goods or services. Different types of cost include capital costs, construction costs, operational costs, whole-life costs, environmental costs, social costs and so on.
		+
		+	Manly Sea Eagles are the best!

	Cost information is an important element across several activities that are involved in cost engineering (the practice of managing costs involved on a construction project), such as cost control, budgeting, forecasting, estimating, investment appraisal and risk analysis. It is also used to help measure profit margins, value assets and make decisions.		Cost information is an important element across several activities that are involved in cost engineering (the practice of managing costs involved on a construction project), such as cost control, budgeting, forecasting, estimating, investment appraisal and risk analysis. It is also used to help measure profit margins, value assets and make decisions.

Editor at 18:07, 23 May 2019

2019-05-23T18:07:01Z

← Older revision		Revision as of 18:07, 23 May 2019
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−	[[File:Saving-money-piggy.jpg]]	+	[[File:Saving-money-piggy.jpg\|link=File:Saving-money-piggy.jpg]]

	In the construction industry the term ‘cost’ generally refers to the amount that has to (or will have to) be paid to receive goods or services. Different types of cost include capital costs, construction costs, operational costs, whole-life costs, environmental costs, social costs and so on.		In the construction industry the term ‘cost’ generally refers to the amount that has to (or will have to) be paid to receive goods or services. Different types of cost include capital costs, construction costs, operational costs, whole-life costs, environmental costs, social costs and so on.
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	* Cost plans.		* Cost plans.
	* Cost reports.		* Cost reports.
		+	* Direct cost.
	* Elemental cost plan.		* Elemental cost plan.
	* Estimate.		* Estimate.

Designing Buildings at 14:46, 22 October 2018

2018-10-22T14:46:31Z

← Older revision		Revision as of 14:46, 22 October 2018
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		+	[[File:Saving-money-piggy.jpg]]
		+
	In the construction industry the term ‘cost’ generally refers to the amount that has to (or will have to) be paid to receive goods or services. Different types of cost include capital costs, construction costs, operational costs, whole-life costs, environmental costs, social costs and so on.		In the construction industry the term ‘cost’ generally refers to the amount that has to (or will have to) be paid to receive goods or services. Different types of cost include capital costs, construction costs, operational costs, whole-life costs, environmental costs, social costs and so on.

Designing Buildings at 14:45, 22 October 2018

2018-10-22T14:45:38Z

← Older revision		Revision as of 14:45, 22 October 2018
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−	~~The type of cost information will depend on~~ the ~~particular costs. The~~ term ‘cost’ ~~in the construction industry~~ generally refers to the amount that has to (or will have to) be paid to receive goods or services. Different types of cost include capital costs, construction costs, operational costs, whole-life costs, environmental costs, and so on.	+	In the construction industry the term ‘cost’ generally refers to the amount that has to (or will have to) be paid to receive goods or services. Different types of cost include capital costs, construction costs, operational costs, whole-life costs, environmental costs, social costs and so on.

−	Cost information ~~can be used to help set prices. This usually starts with the actual cost with a percentage included to allow for profit. If it~~ is ~~not known exactly how much the goods or services~~ in ~~question~~ cost ~~it is harder for~~ a ~~business to be~~ as ~~competitive in terms of price as others may be in the same market~~. It is also used to help measure profit margins, value assets ~~effectively,~~ and make decisions ~~based on cost factors~~.	+	Cost information is an important element across several activities that are involved in cost engineering (the practice of managing costs involved on a construction project), such as cost control, budgeting, forecasting, estimating, investment appraisal and risk analysis. It is also used to help measure profit margins, value assets and make decisions.

−	~~Cost information is an important element across several activities that are involved in~~ cost ~~engineering (~~the ~~practice~~ of ~~managing~~ costs ~~involved on a construction project), such as cost control, budgeting, forecasting, estimating, investment appraisal and risk analysis~~.	+	The type of cost information will depend on the particular type of costs that are being managed.

−	In ~~the context of estimating~~ construction ~~or capital~~ costs ~~for a building~~, cost information ~~should~~ be ~~aligned with the project budget unless otherwise agreed with the client. Cost information may also include, or be linked~~ to, a ~~maintenance cost plan. Without up-~~to~~-date and accurate cost information, the potential~~ for ~~incorrect business accounting increases~~.	+	In relation to construction costs, cost information can be used to help set prices, which are typically the actual cost plus a percentage to allow for profit.

−	~~Cost~~ information can be ~~provided by~~ cost plans. These are generally prepared by cost consultants (often quantity surveyors) and evolve through the life of the project, developing in detail and accuracy as more information becomes available about the nature of the design, and then actual prices are provided by specialist contractors, contractors and suppliers~~. Types of cost plan include an initial cost appraisal, elemental cost plan, contract sum analysis, final account, and so on~~.	+	In the context of estimating construction or capital costs, cost information should be aligned with the project budget and can be set out in cost plans. These are generally prepared by cost consultants (often quantity surveyors) and evolve through the life of the project, developing in detail and accuracy as more information becomes available about the nature of the design, and then actual prices are provided by specialist contractors, contractors and suppliers.

−	~~Cost reporting is a process used to provide a client (or other party) with information about the magnitude~~ of ~~a construction project’s predicted, or actual~~ cost. This can be expressed either in absolute terms or as a variance compared to the project budget. Cost reports are typically prepared by a cost consultant (such as a quantity surveyor) and updated regularly (perhaps monthly), to keep the client informed and to help them and the project team control costs.	+	Types of cost plan include:

−	BCIS is the Building Cost Information Service of the Royal Institution of Chartered Surveyors (RICS). ~~It is described by RICS as ‘the leading provider of cost~~ and price information to the construction industry ~~and anyone else who needs comprehensive~~, ~~accurate~~ and ~~independent data~~.’	+	* Initial cost appraisal (studies of options prepared during the feasibility study stage).
		+	* Elemental cost plan (prepared during the project brief stage and carried through to detailed design).
		+	* Approximate quantities cost plan (from the end of detailed design through to tender).
		+	* Pre-tender estimate (prepared alongside tender documentation).
		+	* Tender pricing document (strictly speaking this is not a priced document, but is part of the tender documentation issued to the contractor for pricing).
		+	* Contract sum (agreed with the contractor during the tender period and adjusted during the construction period).
		+	* Contract sum analysis (a break down of the contract sum prepared by the contractor on design and build projects).
		+	* Final account (agreed during the defects liability period).
		+
		+	For more information see: Cost plan.
		+
		+	Cost reporting is the process of providing a client (or other party) with information about the magnitude of a project’s predicted, or actual cost. This can be expressed either in absolute terms or as a variance compared to the project budget. Cost reports are typically prepared by a cost consultant (such as a quantity surveyor) and updated regularly (perhaps monthly), to keep the client informed and to help them and the project team control costs.
		+
		+	BCIS is the Building Cost Information Service of the Royal Institution of Chartered Surveyors (RICS). Cost and price information is collected by BCIS from across the UK construction industry, then collated, analysed, modelled, interpreted and made available to the industry to facilitate accurate cost planning.
		+
		+	For more information see: BCIS

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

Editor at 12:10, 11 October 2018

2018-10-11T12:10:17Z

← Older revision		Revision as of 12:10, 11 October 2018
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−	~~Cost~~ information ~~is information that relates to~~ the ~~estimate of~~ the construction, or ~~capital, costs for a building, which should~~ be ~~aligned with the project budget unless otherwise agreed with the client~~. ~~Cost information may also~~ include, ~~or be linked to~~, ~~a maintenance cost plan. Without up~~-~~to-date and accurate cost information~~, ~~the potential for incorrect business accounting increases~~.	+	The type of cost information will depend on the particular costs. The term ‘cost’ in the construction industry generally refers to the amount that has to (or will have to) be paid to receive goods or services. Different types of cost include capital costs, construction costs, operational costs, whole-life costs, environmental costs, and so on.

	Cost information can be used to help set prices. This usually starts with the actual cost with a percentage included to allow for profit. If it is not known exactly how much the goods or services in question cost it is harder for a business to be as competitive in terms of price as others may be in the same market. It is also used to help measure profit margins, value assets effectively, and make decisions based on cost factors.		Cost information can be used to help set prices. This usually starts with the actual cost with a percentage included to allow for profit. If it is not known exactly how much the goods or services in question cost it is harder for a business to be as competitive in terms of price as others may be in the same market. It is also used to help measure profit margins, value assets effectively, and make decisions based on cost factors.

−	~~BCIS~~ is the ~~Building Cost Information Service~~ of ~~the Royal Institution of Chartered Surveyors (RICS~~)~~. It is described by RICS~~ as ~~‘the leading provider of~~ cost ~~and price information to the construction industry and anyone else who needs comprehensive~~, ~~accurate~~ and ~~independent data~~.’	+	Cost information is an important element across several activities that are involved in cost engineering (the practice of managing costs involved on a construction project), such as cost control, budgeting, forecasting, estimating, investment appraisal and risk analysis.

−	~~= Find out~~ more =	+	In the context of estimating construction or capital costs for a building, cost information should be aligned with the project budget unless otherwise agreed with the client. Cost information may also include, or be linked to, a maintenance cost plan. Without up-to-date and accurate cost information, the potential for incorrect business accounting increases.
		+
		+	Cost information can be provided by cost plans. These are generally prepared by cost consultants (often quantity surveyors) and evolve through the life of the project, developing in detail and accuracy as more information becomes available about the nature of the design, and then actual prices are provided by specialist contractors, contractors and suppliers. Types of cost plan include an initial cost appraisal, elemental cost plan, contract sum analysis, final account, and so on.
		+
		+	Cost reporting is a process used to provide a client (or other party) with information about the magnitude of a construction project’s predicted, or actual cost. This can be expressed either in absolute terms or as a variance compared to the project budget. Cost reports are typically prepared by a cost consultant (such as a quantity surveyor) and updated regularly (perhaps monthly), to keep the client informed and to help them and the project team control costs.
		+
		+	BCIS is the Building Cost Information Service of the Royal Institution of Chartered Surveyors (RICS). It is described by RICS as ‘the leading provider of cost and price information to the construction industry and anyone else who needs comprehensive, accurate and independent data.’

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

	* BCIS.		* BCIS.
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	* Bills of quantities.		* Bills of quantities.
	* Business plan.		* Business plan.
		+	* Cost.
	* Cost control.		* Cost control.
	* Cost engineering.		* Cost engineering.
	* Cost plans.		* Cost plans.
		+	* Cost reports.
	* Elemental cost plan.		* Elemental cost plan.
	* Estimate.		* Estimate.
	* Initial cost appraisal.		* Initial cost appraisal.
	* Overheads.		* Overheads.
−	* [[Spon~~'s_Price_Book~~\|Spon’s Price Book.]]	+	* Price.
		+	* [[Spon%27s_Price_Book\|Spon’s Price Book.]]
	* Whole-life costs.		* Whole-life costs.

−	~~[[Category:Articles_needing_more_work]]~~ [[Category:Cost_/_business_planning]] [[Category:Procurement]]	+	[[Category:Cost_/_business_planning]] [[Category:Procurement]]