Building works estimate
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 NRM1: Order of cost estimating and cost planning for capital building work, the term ‘building works estimate’ means:
'… the sum of the cost targets for group elements 1 to 8 (i.e. Substructure; Superstructure; Internal finishes; Fittings, furnishings and equipment; Services; Prefabricated buildings and building units; Work to existing buildings; and External works). It excludes facilitating works estimate, as well as those relating to main contractor’s preliminaries, main contractor’s overheads, profit/design team fees estimate, other development/project costs estimate and risk allowances.’
That is, it is the total estimated cost of building works.
The elemental method offers an alternative approach for calculating the building works estimate. The elemental method:
‘…is a budget setting technique which considers the major elements of a building and provides an order of cost estimate based on an elemental breakdown of a building project.'
[edit] Related articles on Designing Buildings Wiki
Featured articles and news
The hidden price of infrastructure.
BREEAM incorporates wellbeing into its Building Back Better programme.
President Biden commits to clean energy
Administration signals policy changes on some building-related issues.
From inns and coaching houses to boutiques.
Survey reveals green skills gap.
America's economic collapse produced scores of PWA Moderne projects.
The benefits of glowing aggregates and cement.
Rising concern over construction worker wellbeing
Urgent need for open communication to address mental health issues.
New engineering alliance forms
Guidance offered on COVID-19 green recovery, building safety and more.
Providing strength and support above the joists.
Construction Products Regulator
Enforcer will test and investigate product safety.