Post tender estimate - Revision history

Designing Buildings at 08:24, 15 November 2020

2020-11-15T08:24:38Z

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−	\|…a cost estimate carried out after the evaluation of tenders to corroborate the funds required by the employer to complete the building project.	+	\| …a cost estimate carried out after the evaluation of tenders to corroborate the funds required by the employer to complete the building project.
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	* Tender pricing document.		* Tender pricing document.

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

Editor at 15:05, 5 January 2018

2018-01-05T15:05:28Z

← Older revision		Revision as of 15:05, 5 January 2018
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−	A post tender estimate should be prepared after tender evaluation and any tender negotiations or tender adjustments have been completed, but before the final decision to invest is made by the client. It includes known construction costs, design team fees, other development/project costs (where these are part of the cost plan) and residual risks. The purpose of the post-tender estimate is to confirm the amount of funding that will be required in order to complete the project, allowing the client to satisfy themselves that sufficient funding will be available. It may also be used as the control estimate during the construction process.	+	A post tender estimate should be prepared after tender evaluation and any tender negotiations or tender adjustments have been completed, but before the final decision to invest is made by the client. It includes known construction costs, design team fees, other development/project costs (where these are part of the cost plan) and residual risks.

−	NB A pre-tender estimate (PTE) is the final estimate of the likely cost of the works described by the completed tender documents. It provides a final comparison with the budget, and along with the cash flow estimate enables the client to confirm that sufficient funds are available before committing to seeking tenders. For more information see: Pre-tender estimate.	+	The purpose of the post-tender estimate is to confirm the amount of funding that will be required in order to complete the project, allowing the client to satisfy themselves that sufficient funding will be available. It may also be used as the control estimate during the construction process.
		+
		+	NB: A pre-tender estimate (PTE) is the final estimate of the likely cost of the works described by the completed tender documents. It provides a final comparison with the budget, and along with the cash flow estimate enables the client to confirm that sufficient funds are available before committing to seeking tenders. For more information see: Pre-tender estimate.

	= Find out more =		= Find out more =
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	* Cost plan.		* Cost plan.
	* Elemental cost plan.		* Elemental cost plan.
		+	* Estimate.
	* Initial cost appraisals.		* Initial cost appraisals.
	* Investment decision maker.		* Investment decision maker.

Designing Buildings at 11:15, 2 January 2018

2018-01-02T11:15:41Z

← Older revision		Revision as of 11:15, 2 January 2018
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	The New Rules of Measurement (NRM) are published by the Royal Institute of Chartered Surveyors (RICS). They provide a standard set of measurement rules for estimating, cost planning, procurement and whole-life costing for construction projects.		The New Rules of Measurement (NRM) are published by the Royal Institute of Chartered Surveyors (RICS). They provide a standard set of measurement rules for estimating, cost planning, procurement and whole-life costing for construction projects.

−	According to NRM2: Detailed measurement for building works, a post tender estimate is	+	According to NRM2: Detailed measurement for building works, a post tender estimate is:

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−	A post-tender estimate should be prepared after tender evaluation and any tender negotiations or tender adjustments , but before the final decision to invest is made by the client. It includes known construction costs, design team fees, other development/project costs (where these are part of the cost plan) and residual risks. The purpose of the post-tender estimate is to ~~confirms~~ the amount of funding that will be required in order to complete the project, allowing the client to ~~confirm~~ that sufficient funding will be available. It may also be used as the control estimate during the construction process.	+	A post tender estimate should be prepared after tender evaluation and any tender negotiations or tender adjustments have been completed, but before the final decision to invest is made by the client. It includes known construction costs, design team fees, other development/project costs (where these are part of the cost plan) and residual risks. The purpose of the post-tender estimate is to confirm the amount of funding that will be required in order to complete the project, allowing the client to satisfy themselves that sufficient funding will be available. It may also be used as the control estimate during the construction process.

−	NB ~~The~~ pre-tender estimate (PTE) is the final estimate of the likely cost of the works ~~that are~~ described in completed ~~tender documents prepared to seek tenders (offers) from prospective suppliers. The pre-tender estimate itself is not included in the~~ tender documents. It provides a final comparison with the budget, and along with the cash flow estimate enables the client to confirm that sufficient funds are available before committing to seeking tenders.	+	NB A pre-tender estimate (PTE) is the final estimate of the likely cost of the works described by the completed tender documents. It provides a final comparison with the budget, and along with the cash flow estimate enables the client to confirm that sufficient funds are available before committing to seeking tenders. For more information see: Pre-tender estimate.

	= Find out more =		= Find out more =
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	* Cost plan.		* Cost plan.
	* Elemental cost plan.		* Elemental cost plan.
−	* Final account.
	* Initial cost appraisals.		* Initial cost appraisals.
		+	* Investment decision maker.
	* NRM2.		* NRM2.
	* Pre-tender estimate.		* Pre-tender estimate.
		+	* Tender evaluation.
		+	* Tender negotiation.
	* Tender pricing document.		* Tender pricing document.

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

Designing Buildings: Created page with "The New Rules of Measurement (NRM) are published by the Royal Institute of Chartered Surveyors (RICS). They provide a standard set of measurement rules for estimating, cost plann..."

2018-01-02T11:09:59Z

Created page with "The New Rules of Measurement (NRM) are published by the Royal Institute of Chartered Surveyors (RICS). They provide a standard set of measurement rules for estimating, cost plann..."

New page

The New Rules of Measurement (NRM) are published by the Royal Institute of Chartered Surveyors (RICS). They provide a standard set of measurement rules for estimating, cost planning, procurement and whole-life costing for construction projects.

According to NRM2: Detailed measurement for building works, a post tender estimate is

{|
|…a cost estimate carried out after the evaluation of tenders to corroborate the funds required by the employer to complete the building project.
|}

A post-tender estimate should be prepared after tender evaluation and any tender negotiations or tender adjustments , but before the final decision to invest is made by the client. It includes known construction costs, design team fees, other development/project costs (where these are part of the cost plan) and residual risks. The purpose of the post-tender estimate is to confirms the amount of funding that will be required in order to complete the project, allowing the client to confirm that sufficient funding will be available. It may also be used as the control estimate during the construction process.

NB The pre-tender estimate (PTE) is the final estimate of the likely cost of the works that are described in completed tender documents prepared to seek tenders (offers) from prospective suppliers. The pre-tender estimate itself is not included in the tender documents. It provides a final comparison with the budget, and along with the cash flow estimate enables the client to confirm that sufficient funds are available before committing to seeking tenders.

= Find out more =

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

* Approximate quantities cost plan.
* Bills of quantities.
* Budget.
* Cash flow projection.
* Contract sum analysis.
* Cost consultant.
* Cost plan.
* Elemental cost plan.
* Final account.
* Initial cost appraisals.
* NRM2.
* Pre-tender estimate.
* Tender pricing document.

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