Estimating and Cost Planning
Delivered by professional Quantity Surveyors
Who have worked on some of the UK’s most prestigious construction projects from our HQ in Colchester, Essex.
Every construction project will have the simple budgetary requirements and most from the small house to the larger commercial projects consist of numerous areas of complexity where costs can potentially spiral out of control. Our expertise in working on some of the largest construction projects in the UK, from our Colchester base in Essex, means we fully appreciate the need to budget and accurately forecast costs from conception and throughout the lifetime of the project. Keeping a firm grip on budgets and costs is paramount to the success and delivery of all construction projects!
ProQS delivers budget estimating and cost planning in meticulous detail, helping the project owners to control their expenditure, making sure they achieve value for money with a project delivered within budget.
At the early stage of design, it may be necessary for the project to undergo a cost assessment to fully appreciate its viability. For a project to be successful, this kind of study will highlight various options relating to costs within the project, and help the project owner to fully appreciate risk, and profitable outcomes. It will help the owner understand certain risks, and make informed predictions around any uncertainties that may exist. The aim of this process is to identify the building costs of the project and help to make important decisions around areas of expenditure.
Quantification and costing
Every project requires a very similar process to quantify costs. However, each project is unique and may have intricacies which require flexibility in how that project is costed and quantified.
The first stage of costing a project is to do an appraisal following the RIBA plan of work recommendations and create the initial estimates that will provide business justification. Once the project has the design brief and concept approved a more formal cost plan is created from detailed technical specifications that starts the process of tender documentation and mobilisation of the project. Once underway, quantification and costing is an ongoing process to align with the requirements throughout the duration of the project and through to completion.
This is a highly relevant and important part of the planning process around a project. Construction can be viewed as a manufacturing process with an easily evaluated end product, such as a building. It helps the project owner to fully appreciate the expectations of a project by making initial comparisons with similar projects. This can improve profitability and demonstrate how contractors and consultants should perform in the process of building the project to its natural conclusion.
Preparation and issuing pricing documents
Once there is a full appreciation of the methodology we need to adopt for a project we look at cost planning which is the basis for any successful construction project. An integral part of what we do, and a version of this process is often used as a standalone service to undertake early cost advice for a proposed new development.
Advice and supervision
Procurement is the next stage of planning, and we can advise on the appropriateness of procurement routes, and help our clients to manage the tendering and negotiation process. We can provide the necessary analysis and reports to help with making the right decisions for a supply chain.
Typically this would include:
- Checking developing designs against project budget
- Assessing value for money
- Checking designs meet the legal and quality standards
- Risk management and value management