Elemental cost analysis

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, an ‘elemental cost analysis’ (or cost analysis) is:

‘…a full appraisal of costs involved in previously constructed buildings and is aimed mainly at providing reliable information that will assist in accurately estimating cost of future buildings. It provides a product-based cost model, providing data on which initial elemental estimates and elemental cost plans can be based.'

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[edit] Related articles on Designing Buildings Wiki

• Building works estimate.
• Cost breakdown structure.
• Cost estimate.
• Cost plan.
• Element unit rate.
• Elemental cost plan.
• Initial cost appraisals.
• NRM1.
• RICS.