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Cost Planning

Cost Planning

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Published by abil_rye
qsm506
qsm506

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Categories:Types, School Work
Published by: abil_rye on Jun 29, 2010
Copyright:Attribution Non-commercial

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08/20/2013

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1
(PRE AND POST CONTRACT)
COST PLANNING
1
 
INTRODUCTION TO COSTPLANNING PROCESS
CP as a process is difficult to define concisely as itinvolves a variety of procedures and techniquesused concurrently by the QS or building economics.
Traditional CP will usually follow the conventionaloutline design, detailed process.
In practical sense, the CP starts with thedevelopment of a figure (or cost) to allow client todecide whether the project is feasible.
The feasibility estimate is usually calculated on aunit cost method, refine using the elementalmethod, component elements and sub-elements.
The elemental method is a system of cost planningand control that enables the cost of a scheme to bemonitored during the various stages of designdevelopment.
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INTRODUCTION (CONT’D)
 
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Cost planning is a system that required totalcoordination of the project form its commencementto completion.
It involved a systematic framework procedure anddemand high commitment from the design team tocooperate with the QS to ensure that the objectivesin terms of costs, time and quality are achieved.
The cost planning process can be regarded as ameans of getting an optimum result that offers thebest value for money or saving and is economical.
Without cost planning, an analysis has no scientificbasic and thus all estimates are at risk unlessproven otherwise and with cost planning errors canbe minimized.

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