QUANTITY SURVEYING
The key to effective cost management is to enable customers requirements to be detailed and the scope of works fully identified and costed within the project cost plan.
The cost plan is the platform or baseline for controlled design development and provides an essential tool to enable projects to be delivered within budget. As well as being a key document, the process of developing a cost plan often highlights areas of risk and uncertainty and may well help clarify the team’s thinking on issues of scope, specification and programme all of which affect the cost.
Where customers require a risk analysis, this can be undertaken to establish a likely out turn cost and to develop a risk mitigation plan. The plan can be used through the whole life cycle of the project including bring into use, rectifying any defects, and if appropriate the operational costs of the asset.
By utilising the plan during all phases of the project, but in particular during design development and the procurement process, the document can be used to ensure that costs are managed rather than just reported.
Accurate and impartial advice is essential if costs are to be managed and reported to enable the customer to take proactive steps as issues develop, rather than as is all too often the case, react once the money has been spent and avenues to mitigate over expenditure are limited.
An essential element of successful cost control is the strict administration of change control procedures throughout all stages of the project from initial budgets, during the design stage and throughout construction
The cost plan is the platform or baseline for controlled design development and provides an essential tool to enable projects to be delivered within budget. As well as being a key document, the process of developing a cost plan often highlights areas of risk and uncertainty and may well help clarify the team’s thinking on issues of scope, specification and programme all of which affect the cost.
Where customers require a risk analysis, this can be undertaken to establish a likely out turn cost and to develop a risk mitigation plan. The plan can be used through the whole life cycle of the project including bring into use, rectifying any defects, and if appropriate the operational costs of the asset.
By utilising the plan during all phases of the project, but in particular during design development and the procurement process, the document can be used to ensure that costs are managed rather than just reported.
Accurate and impartial advice is essential if costs are to be managed and reported to enable the customer to take proactive steps as issues develop, rather than as is all too often the case, react once the money has been spent and avenues to mitigate over expenditure are limited.
An essential element of successful cost control is the strict administration of change control procedures throughout all stages of the project from initial budgets, during the design stage and throughout construction