What is an order of cost estimate?
It is the determination of a possible of a building early in the design stage in relation to the employer’s fundamental requirements. This takes place prior to bills of Quants or detailed drawings and is used to establish if the proposed project is affordable and to set a budget (cost limit).
What are the estimating methods for the building works when preparing a cost estimate?
- Functional unit method
- Floor area method
- Elemental method
What information is required to prepare a cost estimate?
- Location/building use
- Floor area, functional unit, schedule of accommodation
- Storey heights (raised access floors)
- Design brief (i.e. quality, sustainability, fit out requirements)
- Enabling works
- Indicative programme
- Site conditions
- Life span
- M&E requirements
- Any particular restraints
What are facilitating works?
These are specialist works which need to be completed before main work can commence i.e. removal of asbestos and soil stabilisation – not the same as enabling works.