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Updating

Historic data will need to be updated both for time and location. A series of tender price indices
are prepared by the Building Cost Information Service (BCIS), the Department for Business
Enterprise and Regulatory Reform (formerly the DTI) and a number of other industry sources
in order to update historic data from the tender date to the present, or to project ahead to a
future date.

Similarly, regional indices are available and can be used to adjust costs from one location to
another. Fortunately, computer programs are now available to carry out most of this updating
process more or less automatically. These programs can also provide a snapshot of current
prices and enable 'what if' scenarios to be worked through.

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