Factor method
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 ‘factor method’ refers to
‘…modification of reference service life by factors to take account of specific in use conditions.’
Where the reference service life is:
‘…the service life that is expected under a reference set of in use conditions and that may form the basis of estimating the service life.’
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