Net benefits
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.
NRM3: Order of cost estimating and cost planning for building maintenance works, the terms ‘Net Savings’ (NS) and ‘Net Benefits’ (NB) refer to:
'…the present value of savings/benefits in the operation ‘in use’ phase less the present value of the additional investment costs to achieve them. It provides a measure of cost effectiveness and of the benefits to be achieved from investment options. NS/NB greater than 0 (zero) indicates positive cost effectiveness.'
In natural heritage terms, net benefit (enhancement / new benefit) refers to: ‘… the genuine (as opposed to asserted) improvement of the natural heritage interest of a site or area, for example, because adverse effects are limited in scope and scale, and the project includes measures to improve the physical state or management of landscapes or habitats, or new landscape features or habitats, which are better than they are at present. There is, therefore, a net or new benefit to the natural heritage.’ Ref A handbook on environmental impact assessment, 4th edition, published by Scottish Natural Heritage in 2013.
[edit] Related articles on Designing Buildings Wiki
- Capital costs for construction projects.
- Cost plan.
- Cost-benefit analysis in construction.
- Development appraisal.
- Discounting.
- Internal rate of return for property development.
- Investment.
- Life cycle assessment.
- Net present value.
- NRM1.
- NRM2.
- NRM3
- Profitability.
- RICS.
- Value for money.
- Whole life costs.
- Yield.
Featured articles
Check out some of the best features and news from Designing Buildings as well as key stories from around the web.
Construction Management, 8 July
NEETs crisis drives interest in trades, but apprenticeships barriers remain.
Passive fire protection webinar
MEP services penetration seals.
Where its at podcast (and video) - The role of the Architectural Technologist as an Expert Witness.
More than 200 remarkable buildings added to SAVE’s Buildings at Risk register.
Government scraps pre-application consultation for Nationally Significant Infrastructure Projects.
Historic England and infrastructure
New projects offer opportunities for the historic environment and local communities.
Construction Management, 2 July
Construction deaths halve in two years.
Green Book changes to drive investment in all parts of UK.
Minimum energy efficiency standards (MEES)
CIAT briefing on response to consultations for privately rented non-domestic properties.
Connect, collaborate, shape the future
Registration now live for UK Construction Week Birmingham.
CIOB announces Saul Humphrey FCIOB as new President for 26/27 term.
A quick, simple, and zero-bills solution to prevent overheating.