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Last edited 15 Jun 2021
Total costs will include construction costs, that is, those costs incurred by the actual construction works themselves, on some projects determined by the value of the contract with the main contractor. However, the construction contract may include costs that might not in themselves be considered literal construction costs (hard costs), such as fees, profits, overheads, and so on, and there may be construction works that are awarded by the client outside of the main contract (such as fitting out the interior, minor alterations to the completed works, installation of equipment, and so on).
These are generally considered to be capital costs. However, beyond the completion of the construction contract, there will be other costs associated with operating the development which may not be capital costs, and ultimately, there will be costs associated with the demolition, deconstruction or disposal of the development.
NB The Chartered Institute of Procurement & Supply (CIPS) Glossary of procurement terms, defines total costs as: ‘The total amount of costs spent, including fixed, variable, direct and indirect costs’
 Related articles on Designing Buildings Wiki
- Bill of quantities.
- Business plan.
- Capital cost.
- Cost certainty.
- Cost consultant.
- Cost control.
- Cost information.
- Cost plans.
- Front-loaded costs.
- Hard costs v soft costs.
- Life cycle costs.
- Operational costs.
- Outturn cost.
- Sunk cost.
- Total development cost.
- Utilising life cycle costing and life cycle assessment.
- Whole life costs.
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