Functional analysis
Capital Works Management Framework, Guidance Note, Glossary, Published by the Government of Ireland Department of Finance in 2009 suggests that:
‘Function Analysis is a way of breaking down project objectives into their component parts and determining how they contribute to the overall project objectives. A completed function analysis shows what the financial investment ‘buys’ for a client. Successful function analysis drives innovative project decisions, and also forms a basis for risk management and for value management.’
‘The rough estimate of global cost of the entire project is often based on functional unit costs multiplied by number of units according to the established norms in a sector. For example, construction costs for a school could be based on a norm of 6 m2/per pupil @ €100/m2; so, a rough estimate for a 1,000 pupil school would be 6 x 100 x 1,000.’
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