Difference between cost plan and budget - Revision history

Editor at 12:42, 26 November 2021

2021-11-26T12:42:32Z

← Older revision		Revision as of 12:42, 26 November 2021
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	* Cost control.		* Cost control.
	* Cost plans for construction projects.		* Cost plans for construction projects.
		+	* Cost management techniques used to monitor the cost of construction projects.
	* Difference between collateral warranties and third party rights.		* Difference between collateral warranties and third party rights.
	* Difference between preliminaries and preambles		* Difference between preliminaries and preambles

Editor at 12:40, 26 November 2021

2021-11-26T12:40:46Z

← Older revision		Revision as of 12:40, 26 November 2021
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	For more information see: Cost plan.		For more information see: Cost plan.

−	~~= Find out more =~~	+	= Related articles on Designing Buildings =
−		+
−	=== Related articles on Designing Buildings ~~Wiki ==~~=	+

	* Budget.		* Budget.

Designing Buildings at 12:21, 1 October 2020

2020-10-01T12:21:17Z

← Older revision		Revision as of 12:21, 1 October 2020
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	* Tender pricing document.		* Tender pricing document.

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

Designing Buildings at 08:28, 14 December 2017

2017-12-14T08:28:58Z

← Older revision		Revision as of 08:28, 14 December 2017
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−	It is important not to confuse cost plans budgets.	+	It is important not to confuse cost plans and budgets.

	A budget is a statement of the amount of money available to spend over a period of time, or on a specific thing, such as a building. The budget is set by the client (although they make seek help to do this). It may include an outline plan for how that money will be spent, and a breakdown of the items it will be spent on. Budgets set a limit for expenditure and this can help determine what is affordable. They should be set as early as possible so that expectations can be managed. It is important that they are based on evidence and that they are realistic, rather than simply stating the amount of money available, or being a wild guess, because, once the budget is set in people's minds, it can be very difficult to change.		A budget is a statement of the amount of money available to spend over a period of time, or on a specific thing, such as a building. The budget is set by the client (although they make seek help to do this). It may include an outline plan for how that money will be spent, and a breakdown of the items it will be spent on. Budgets set a limit for expenditure and this can help determine what is affordable. They should be set as early as possible so that expectations can be managed. It is important that they are based on evidence and that they are realistic, rather than simply stating the amount of money available, or being a wild guess, because, once the budget is set in people's minds, it can be very difficult to change.

Designing Buildings at 08:28, 14 December 2017

2017-12-14T08:28:43Z

← Older revision		Revision as of 08:28, 14 December 2017
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−	It is important not to confuse ~~project~~ cost plans budgets.	+	It is important not to confuse cost plans budgets.

−	A budget is a statement of the amount of money available to spend over a period of time, or on a specific thing, such as a building. The budget is set by the client (although they make seek help to do this. It may include an outline plan for how that money will be spent, and a breakdown of the items it will be spent on. Budgets for ~~construction projects~~ help determine what is affordable ~~and~~ should be set as early as possible so that expectations can be managed. It is important that they are based on evidence and that they are realistic, rather than simply stating the amount of money ~~that is~~ available, being a wild guess~~. Once~~ the budget is set in people's minds, it can be very difficult to change~~. A project budget may include items that do not fall within~~	+	A budget is a statement of the amount of money available to spend over a period of time, or on a specific thing, such as a building. The budget is set by the client (although they make seek help to do this). It may include an outline plan for how that money will be spent, and a breakdown of the items it will be spent on. Budgets set a limit for expenditure and this can help determine what is affordable. They should be set as early as possible so that expectations can be managed. It is important that they are based on evidence and that they are realistic, rather than simply stating the amount of money available, or being a wild guess, because, once the budget is set in people's minds, it can be very difficult to change.
−		+
−	Cost plans evolve through the life of the project, developing in detail and accuracy as more information becomes available about the nature of the design. Actual prices are then provided by specialist contractors, contractors and suppliers. They range from very early initial cost appraisals through to tender pricing documents and the final account.	+

	For more information see: Budget.		For more information see: Budget.

−	Cost plans are typically prepared by a cost consultant ~~which~~ are likely to ~~focus on~~ the ~~construction~~ cost.	+	Cost plans are typically prepared by a cost consultant and provide an estimate of what the actual costs are likely to be. Cost plans evolve through the life of the project, developing in detail and accuracy as more information becomes available about the nature of the project. They can range from very early initial cost appraisals through to tender pricing documents and the final account. If the cost plan exceeds the budget, it may be necessary to reduce the cost or scope of the project.
		+
		+	For more information see: Cost plan.

	= Find out more =		= Find out more =

Designing Buildings at 08:21, 14 December 2017

2017-12-14T08:21:24Z

← Older revision		Revision as of 08:21, 14 December 2017
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−	It is important not to confuse project cost plans ~~with~~ the ~~project~~ budget.	+	It is important not to confuse project cost plans budgets.
		+
		+	A budget is a statement of the amount of money available to spend over a period of time, or on a specific thing, such as a building. The budget is set by the client (although they make seek help to do this. It may include an outline plan for how that money will be spent, and a breakdown of the items it will be spent on. Budgets for construction projects help determine what is affordable and should be set as early as possible so that expectations can be managed. It is important that they are based on evidence and that they are realistic, rather than simply stating the amount of money that is available, being a wild guess. Once the budget is set in people's minds, it can be very difficult to change. A project budget may include items that do not fall within

	Cost plans evolve through the life of the project, developing in detail and accuracy as more information becomes available about the nature of the design. Actual prices are then provided by specialist contractors, contractors and suppliers. They range from very early initial cost appraisals through to tender pricing documents and the final account.		Cost plans evolve through the life of the project, developing in detail and accuracy as more information becomes available about the nature of the design. Actual prices are then provided by specialist contractors, contractors and suppliers. They range from very early initial cost appraisals through to tender pricing documents and the final account.

−	A budget is a statement of the amount of money that is available to spend over a period of time, or on a specific thing, such as a building. It may include an outline plan for how that money will be spent, and a breakdown of the items it will be spent on.	+	For more information see: Budget.

−	~~Budgets for construction projects help determine what is affordable and should be set as early as possible. It is important that they~~ are ~~based on evidence and that they are realistic. The budget is set by the client and is distinct from cost plans~~ prepared by a cost consultant which are likely to focus on the construction cost.	+	Cost plans are typically prepared by a cost consultant which are likely to focus on the construction cost.

	= Find out more =		= Find out more =

Editor: Created page with "It is important not to confuse project cost plans with the project budget. Cost plans evolve through the life of the project, developing in detail and accuracy as more informati..."

2017-12-13T16:58:54Z

Created page with "It is important not to confuse project cost plans with the project budget. Cost plans evolve through the life of the project, developing in detail and accuracy as more informati..."

New page

It is important not to confuse project cost plans with the project budget.

Cost plans evolve through the life of the project, developing in detail and accuracy as more information becomes available about the nature of the design. Actual prices are then provided by specialist contractors, contractors and suppliers. They range from very early initial cost appraisals through to tender pricing documents and the final account.

A budget is a statement of the amount of money that is available to spend over a period of time, or on a specific thing, such as a building. It may include an outline plan for how that money will be spent, and a breakdown of the items it will be spent on.

Budgets for construction projects help determine what is affordable and should be set as early as possible. It is important that they are based on evidence and that they are realistic. The budget is set by the client and is distinct from cost plans prepared by a cost consultant which are likely to focus on the construction cost.

= Find out more =

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

* Budget.
* Capital costs for construction projects.
* Construction costs.
* Cost control.
* Cost plans for construction projects.
* Difference between collateral warranties and third party rights.
* Difference between preliminaries and preambles
* Elemental cost plan for design and construction.
* Final account.
* Outturn cost.
* Quantity surveyor.
* Tender pricing document.

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