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- Legislation and standards
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Last edited 26 Jun 2018
Annual equivalent cost
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 NRM3: Order of cost estimating and cost planning for building maintenance works, the term ‘annual equivalent cost’ refers to:
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