Annualised maintenance 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 ‘annualised maintenance cost’ refers to:
“…the yearly cost of maintaining the building or facility or asset, comprising preventative, reactive and proactive maintenance’
The methods of calculating annualised costs for maintain (M) works are set out in Part 5 of the rules.
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