Order of cost estimate - Revision history

Designing Buildings at 07:06, 6 February 2023

2023-02-06T07:06:50Z

← Older revision		Revision as of 07:06, 6 February 2023
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	* Inflation.		* Inflation.

−	= Related articles on Designing Buildings ~~Wiki~~ =	+	[https://www.rics.org/uk/upholding-professional-standards/sector-standards/construction/rics-cost-prediction-professional-statement-global-1st-edition/ Cost prediction, Professional Statement, 1st edition], published in November 2020 by the Royal Institution of Chartered Surveyors (RICS), defines an order of cost estimate as: ‘An estimate based on benchmark data for a similar type of project based on a defined brief.’
		+
		+	= Related articles on Designing Buildings =

	* Approximate quantities cost plan.		* Approximate quantities cost plan.

Editor at 16:42, 29 September 2020

2020-09-29T16:42:19Z

← Older revision		Revision as of 16:42, 29 September 2020
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	* Inflation.		* Inflation.

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

	* Approximate quantities cost plan.		* Approximate quantities cost plan.
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	* New Rules of Measurement.		* New Rules of Measurement.
	* Pre-tender estimate.		* Pre-tender estimate.
		+	* Top down and bottom up estimating.

	[[Category:DCN_Definition]] [[Category:DCN_Guidance]] [[Category:DCN_Standard]] [[Category:Standards_/_measurements]] [[Category:Construction_management]] [[Category:Cost_/_business_planning]]		[[Category:DCN_Definition]] [[Category:DCN_Guidance]] [[Category:DCN_Standard]] [[Category:Standards_/_measurements]] [[Category:Construction_management]] [[Category:Cost_/_business_planning]]

Designing Buildings at 08:45, 25 September 2020

2020-09-25T08:45:17Z

← Older revision		Revision as of 08:45, 25 September 2020
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	* Pre-tender estimate.		* Pre-tender estimate.

−	[[Category:~~Standards_/_measurements~~]] [[Category:DCN_Standard]] [[Category:Construction_management]] [[Category:Cost_/_business_planning]]	+	[[Category:DCN_Definition]] [[Category:DCN_Guidance]] [[Category:DCN_Standard]] [[Category:Standards_/_measurements]] [[Category:Construction_management]] [[Category:Cost_/_business_planning]]

Designing Buildings: Reverted edits by 82.33.145.219 (talk) to last revision by Designing Buildings

2018-10-06T22:43:18Z

Reverted edits by 82.33.145.219 (talk) to last revision by Designing Buildings

← Older revision		Revision as of 22:43, 6 October 2018
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	* NRM 1: Order of cost estimating and cost planning for capital building works		* NRM 1: Order of cost estimating and cost planning for capital building works
−	* NRM 3: Order of cost estimating and cost planning for building maintenance works~~. I like ass on my plate~~.	+	* NRM 3: Order of cost estimating and cost planning for building maintenance works.

	NRM1 defines an order of cost estimate as; '...the determination of possible cost of a building(s) early in design stage in relation to the employer’s fundamental requirements. This takes place prior to preparation of a full set of working drawings or bills of quantities and forms the initial build-up to the cost planning process.'		NRM1 defines an order of cost estimate as; '...the determination of possible cost of a building(s) early in design stage in relation to the employer’s fundamental requirements. This takes place prior to preparation of a full set of working drawings or bills of quantities and forms the initial build-up to the cost planning process.'
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	* Pre-tender estimate.		* Pre-tender estimate.

−	[[Category:Standards_/_measurements]] [[Category:Construction_management]] [[Category:Cost_/_business_planning]]	+	[[Category:Standards_/_measurements]] [[Category:DCN_Standard]] [[Category:Construction_management]] [[Category:Cost_/_business_planning]]

82.33.145.219 at 13:49, 6 October 2018

2018-10-06T13:49:48Z

← Older revision		Revision as of 13:49, 6 October 2018
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	* NRM 1: Order of cost estimating and cost planning for capital building works		* NRM 1: Order of cost estimating and cost planning for capital building works
−	* NRM 3: Order of cost estimating and cost planning for building maintenance works.	+	* NRM 3: Order of cost estimating and cost planning for building maintenance works. I like ass on my plate.

	NRM1 defines an order of cost estimate as; '...the determination of possible cost of a building(s) early in design stage in relation to the employer’s fundamental requirements. This takes place prior to preparation of a full set of working drawings or bills of quantities and forms the initial build-up to the cost planning process.'		NRM1 defines an order of cost estimate as; '...the determination of possible cost of a building(s) early in design stage in relation to the employer’s fundamental requirements. This takes place prior to preparation of a full set of working drawings or bills of quantities and forms the initial build-up to the cost planning process.'

Designing Buildings at 07:01, 7 May 2018

2018-05-07T07:01:00Z

← Older revision		Revision as of 07:01, 7 May 2018
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−	An order of cost estimate may form part of the initial build-up to the cost planning process. It involves determining the possible cost of a building project, early in the design stage before a full set of working drawings and bill of quantities have been prepared.	+	The purpose of an order of cost estimate is to establish affordability of a proposed development for a client.
−		+
−	The purpose of an order of cost estimate is to establish affordability for ~~the~~ client~~, by looking at whether the proposed project is affordable and what a realistic budget might be~~.	+

	Methods for preparing order of cost estimates are set out in the New Rules of Measurement:		Methods for preparing order of cost estimates are set out in the New Rules of Measurement:
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	* NRM 1: Order of cost estimating and cost planning for capital building works		* NRM 1: Order of cost estimating and cost planning for capital building works
	* NRM 3: Order of cost estimating and cost planning for building maintenance works.		* NRM 3: Order of cost estimating and cost planning for building maintenance works.
		+
		+	NRM1 defines an order of cost estimate as; '...the determination of possible cost of a building(s) early in design stage in relation to the employer’s fundamental requirements. This takes place prior to preparation of a full set of working drawings or bills of quantities and forms the initial build-up to the cost planning process.'

	A wide range of information may be required from the parties to the project to prepare an order of cost estimate:		A wide range of information may be required from the parties to the project to prepare an order of cost estimate:

Designing Buildings at 10:45, 23 January 2018

2018-01-23T10:45:14Z

← Older revision		Revision as of 10:45, 23 January 2018
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	The purpose of an order of cost estimate is to establish affordability for the client, by looking at whether the proposed project is affordable and what a realistic budget might be.		The purpose of an order of cost estimate is to establish affordability for the client, by looking at whether the proposed project is affordable and what a realistic budget might be.
		+
		+	Methods for preparing order of cost estimates are set out in the New Rules of Measurement:
		+
		+	* NRM 1: Order of cost estimating and cost planning for capital building works
		+	* NRM 3: Order of cost estimating and cost planning for building maintenance works.

	A wide range of information may be required from the parties to the project to prepare an order of cost estimate:		A wide range of information may be required from the parties to the project to prepare an order of cost estimate:

Designing Buildings at 10:42, 23 January 2018

2018-01-23T10:42:27Z

← Older revision		Revision as of 10:42, 23 January 2018
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−	An order of cost estimate ~~forms~~ part of the initial build-up to the cost planning process. It involves determining the possible cost of a building project early in the design stage~~, regarding the employer’s fundamental requirements. As part of the build-up, it precedes~~ a full set of working drawings and bill of quantities ~~being~~ prepared.	+	An order of cost estimate may form part of the initial build-up to the cost planning process. It involves determining the possible cost of a building project, early in the design stage before a full set of working drawings and bill of quantities have been prepared.

−	~~New Rules~~ of ~~Measurement (NRM) is a suite of documents that offer guidance on, and explain how to prepare,~~ an order of cost ~~estimates. Order of cost estimates are produced as part of RIBA Work Stages A (Appraisal) and B (Design Brief)~~, ~~or OGC Gateways 1 (Business Justification)~~ and ~~2 (Delivery Strategy)~~.	+	The purpose of an order of cost estimate is to establish affordability for the client, by looking at whether the proposed project is affordable and what a realistic budget might be.

−	~~The purpose~~ of ~~an order of cost estimate is to establish affordability for the client, by looking at whether the proposed project is affordable and what a realistic cost limit might~~ be.	+	A wide range of information may be required from the parties to the project to prepare an order of cost estimate:
−		+
−	~~Different information is~~ required from ~~various~~ parties to ~~be able~~ to prepare an order of cost estimate~~. This includes the following~~:	+

	From the employer:		From the employer:

	* Location and availability of site.		* Location and availability of site.
−	* Statement of building use.	+	* Statement of building use and size.
−	* ~~Refurbishment~~ requirements.	+	* Any refurbishment requirements.
	* Initial project/design brief.		* Initial project/design brief.
	* Enabling works details.		* Enabling works details.
	* Draft programme.		* Draft programme.
−	* Any restraints to be imposed.
	* Site conditions.		* Site conditions.
	* Budget/cash flow constraints.		* Budget/cash flow constraints.
	* Construction procurement options.		* Construction procurement options.
−	* ~~Target life~~ span.	+	* Life span of the proposed building.
−	* Proposed storey heights.	+

	From the architect:		From the architect:

	* Design study sketches or drawings.		* Design study sketches or drawings.
−	* ~~Schedule~~ of areas ~~measurements~~.	+	* Schedules of areas.
−	* ~~Likely planning~~ constraints.	+	* Legislative constraints.
	* Initial risk register.		* Initial risk register.

−	Information can also be provided by the ~~M & E~~ services engineer ~~and~~ structural engineer, if these have been appointed.	+	Information can also be provided by the services engineer, structural engineer, and other consultants if these have been appointed.
−		+
−	~~The key constituents of an order of cost estimate are as follows:~~	+
−		+
−	* Facilitating works estimate.	+
−	* Building works estimate.	+
−	* Main contractor’s preliminaries estimate (expressed as a % of the building works estimate).	+
−		+
−	~~(Sub-total of the above items.)~~	+
−		+
−	* Main contractor’s overheads and profit estimate.	+
−	* Works cost estimate (the above item + the sub-total).	+
−	* Project/design team fees estimate.	+

−	~~Sub-total~~ of ~~works~~ cost estimate ~~and the above item.~~	+	The key constituents of an order of cost estimate are typically:

−	* ~~Other development/project costs estimate~~.	+	* Facilitating works.
−	* ~~Base cost estimate (the above sub-total + the above item)~~.	+	* Building works.
−	* ~~Risk allowances estimate~~.	+	* Contractor’s preliminaries.
−	* ~~Cost limit (base~~ cost ~~estimate + the above item)~~	+	* Contractor’s overheads and profit.
−	* ~~Tender inflation estimate~~.	+	* Construction cost.
−	* ~~Construction inflation estimate~~.	+	* Fees.
−	* ~~Cost limit including inflation estimates~~.	+	* Other development/project costs.
		+	* Risk allowances.
		+	* Inflation.

	= Find out more =		= Find out more =

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2018-01-16T16:08:43Z

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An order of cost estimate forms part of the initial build-up to the cost planning process. It involves determining the possible cost of a building project early in the design stage, regarding the employer’s fundamental requirements. As part of the build-up, it precedes a full set of working drawings and bill of quantities being prepared.

New Rules of Measurement (NRM) is a suite of documents that offer guidance on, and explain how to prepare, an order of cost estimates. Order of cost estimates are produced as part of RIBA Work Stages A (Appraisal) and B (Design Brief), or OGC Gateways 1 (Business Justification) and 2 (Delivery Strategy).

The purpose of an order of cost estimate is to establish affordability for the client, by looking at whether the proposed project is affordable and what a realistic cost limit might be.

Different information is required from various parties to be able to prepare an order of cost estimate. This includes the following:

From the employer:

* Location and availability of site.
* Statement of building use.
* Refurbishment requirements.
* Initial project/design brief.
* Enabling works details.
* Draft programme.
* Any restraints to be imposed.
* Site conditions.
* Budget/cash flow constraints.
* Construction procurement options.
* Target life span.
* Proposed storey heights.

From the architect:

* Design study sketches or drawings.
* Schedule of areas measurements.
* Likely planning constraints.
* Initial risk register.

Information can also be provided by the M & E services engineer and structural engineer, if these have been appointed.

The key constituents of an order of cost estimate are as follows:

* Facilitating works estimate.
* Building works estimate.
* Main contractor’s preliminaries estimate (expressed as a % of the building works estimate).

(Sub-total of the above items.)

* Main contractor’s overheads and profit estimate.
* Works cost estimate (the above item + the sub-total).
* Project/design team fees estimate.

Sub-total of works cost estimate and the above item.

* Other development/project costs estimate.
* Base cost estimate (the above sub-total + the above item).
* Risk allowances estimate.
* Cost limit (base cost estimate + the above item)
* Tender inflation estimate.
* Construction inflation estimate.
* Cost limit including inflation estimates.

= Find out more =

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

* Approximate quantities cost plan.
* Cost plans.
* Difference between cost plan and budget.
* Elemental cost plan.
* Estimate.
* Initial cost appraisal.
* New Rules of Measurement.
* Pre-tender estimate.

[[Category:Standards_/_measurements]] [[Category:Construction_management]] [[Category:Cost_/_business_planning]]