- Project plans
- Project activities
- Legislation and standards
- Industry context
- Specialist wikis
Last edited 28 Apr 2022
The cost consultant's role might include:
- Helping determine the client's requirements and undertaking feasibility studies.
- Benchmarking requirements against similar projects.
- Assessing and comparing options.
- Helping define the project budget.
- Checking developing designs against the project budget.
- Assessing value for money.
- Checking designs meet legal and quality standards.
- Undertaking risk management and value management exercises.
- Preparing cost plans, estimates and cash flow projections.
- Advising on procurement strategy.
- Advising on packaging.
- Preparing bills of quantities.
- Preparing tender pricing documents.
- Collating and issuing tender documentation.
- Assessing tenders.
- Estimating the cost of variations.
- Preparing valuation statements for interim certificates.
- Assisting with the valuation of claims.
- Preparing regular cost reports, including out-turn cost and cash flow.
- Completing the final account.
There are very many different names given to cost planning documents. Cost plans are generally prepared by cost consultants (often quantity surveyors). They evolve through the life of the project, developing in detail and accuracy as more information becomes available about the nature of the design, and then actual prices are provided by specialist contractors, contractors and suppliers. They range from very early initial cost appraisals through to tender pricing documents and the final account.
- Initial cost appraisals (studies of options prepared during the feasibility study stage).
- Elemental cost plan (prepared during the project brief stage and carried through to detailed design).
- Approximate quantities cost plan (from the end of detailed design through to tender).
- Pre-tender estimate (prepared alongside tender documentation).
- Tender pricing document (strictly speaking this is not a priced document, but is part of the tender documentation issued to the contractor for pricing).
- Contract sum (agreed with the contractor during the tender period and adjusted during the construction period).
- Contract sum analysis (a break down of the contract sum prepared by the contractor on design and build projects).
- Final account (agreed during the defects liability period).
Other than initial cost appraisals, these all relate to the construction cost of the project (rather than wider project costs that the client might incur, which could include; fees, equipment costs, furniture, the cost of moving staff, contracts outside of the main works, and so on). It is important that the client makes clear what costs should be monitored by the cost consultant and what will remain within the control of the client organisation.
Initial cost appraisals are carried out without the benefit of a design for the project. They include client costs that may not feature in later cost plans and as a result will almost certainly need input from the client's finance director or financial advisers. Once the initial cost appraisal is completed, the client will decide the scope of costs that will in future be monitored by the cost consultant and those that will be monitored and controlled by the client organisation.
- Traditional contract: appointment.
- Design and build: appointment.
- Public project: appointment.
- Construction management: appointment.
- Management contract: appointment.
- Approximate quantities cost plan.
- Bid writer.
- Building People.
- Business plan.
- Cash flow.
- Chartered surveyor.
- Commercial manager.
- Consulting engineer.
- Construction buyer.
- Contract sum analysis.
- Cost control.
- Cost savings.
- Cost and bonus surveyor.
- Cost plans.
- Elemental cost plan.
- Final account.
- Front-loaded costs.
- Initial cost appraisal.
- Interim certificate.
- New Rules of Measurement.
- Pre-tender estimate
- Professional indemnity insurance.
- Whole life costing.
- Quantity surveyor.
- Sustainability quantity surveyor.
- Tender pricing document.
- Whole life solution
 External references
Featured articles and news
ECA skills recharge at the House of Commons
Electrical sector feels skills shortage bite.
CIOB Academy’s course take-up inked to external factors.
Q and A with self-representing artist, Hannah Shergold.
And publishes three-year strategic plan.
Introducing changes to make it more effective from 2024.
Shortlist announced for 2023 public choice award vote.
The last of the Victorians. Book review.
An exotic name that is shrouded in mystery.
Fropm practice to research and the business of materials.
Terms, histories, theories and practices.
Alteration and everything else before demolition.
And CIOB's response.
Presidential update from CIAT's Eddie Weir PCIAT.
Rates freeze, NI cuts, full expensing; early election?
Could this be a remedy for condensation, damp or mould?
Unlocking a Healthier Tomorrow
Call for ministerial group and National Retrofit Delivery Plan.