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- Legislation and standards
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Last edited 29 Sep 2020
New code of estimating practice
The Code of Estimating Practice was originally published by the Chartered Institute of Building (CIOB) in 1996. It went on to become a highly-respected industry resource, providing an authoritative guide to the principles of, and good practice in, estimating for building work for those involved in procuring and pricing construction works, both in the public and private sectors.
It presents estimating as part of the wider process of commercial management for construction businesses. This is not simply a matter of winning a bid - if the bid is successful, the estimate goes on to form the basis of the contractor’s budget and cost management strategy.
The seventh edition was published in 2009 and included new material on estimating strategy, tendering, procedures and best practice, as well as the build-up of unit rates of cost, overheads and profit, and e-commerce.
In March 2018, it was re-branded as the New Code of Estimating Practice. https://www.wiley.com/en-gb/New+Code+of+Estimating+Practice-p-9781119329640
This new version has been completely rewritten to include more contextual and educational material, and now covers:
- Estimating practice.
- The bidding process.
- The fundamentals in formulating a bid.
- The pre-qualification process.
- Procurement options.
- Contractual arrangements and legal issues.
- Temporary works.
- Cost estimating techniques.
- Risk management.
- Resource and production planning.
- Computer-aided estimating.
- Information and time planning.
- Resource planning and pricing.
- Preparation of an estimator’s report.
- Bid assembly and adjudication.
- Pre-production planning and processes.
- Site production.
 Related articles on Designing Buildings Wiki
- Approximate quantities cost plan.
- Bills of quantities.
- Chartered Institute of Building.
- All-in rates.
- Contract sum analysis.
- Contract sum.
- Cost consultant.
- Cost control.
- Cost engineering.
- Cost plans for construction projects.
- Elemental cost plan
- Final account.
- Initial cost appraisals.
- New Rules of Measurement.
- Pre-tender estimate.
- Project overheads.
- Tender documents.
- Top down and bottom up estimating.
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