Techniques Used For Estimate Cost Based On The Chosen Traditional Method Of Procurement Of Housing Project

1046 WordsNov 24, 20155 Pages
The following summary will outline the possible techniques used to estimate cost based on the chosen traditional method of procurement of housing project, whilst also tying in with the main stages within the RIBA Plan of Works 2013 in the attempt to explore the key tasks, participants involved and their roles as per topic stage. The RIBA Plan of Works 2013 Stages: Stage 0: Strategic Definition. The clients require construction of a two - story, three bedroom detached house within the west midlands region. This is the projects’ realisation stage that is in place to make sure that the proposed business case have been fully considered for development constraints , the projects sustainability , preparation of feasibility studies and…show more content…
The participants include the client and appointed professional lead consultants for aiding in the assembling of the project team. A report by Sir Latham, M (1994) states the selection process of professional consultants is on the basis for recognition of quality as well as price " This selection model is important because in order for project success , a compatible team needs building . The mode of estimation that is suitable for this stage uses the approximation technique of functional unit rates. The ball park budget cost would be refined by using a past but similar project contract price whilst also taking into account its site locality and date. Appendix () shows an example. Approximate floor area = 114m2 Building cost £1, 122 /m2 = £127 '899 [2Q2016 TPI =282 (F ) / 4Q2008 TPI = 240 (previous )] x Building cost £127 '899 (See appendix ) . Projects estimated budget cost = £150 '281. Stage 2: Concept Design. Draft design sketches and a budget estimate are further refined with the aid of elemental cost plan techniques. Greenhalgh , B (2013 p 85 ) illustrates the element cost method within a hierarchy of estimating data used to cost per square meter of each element ( see appendix ) . An example shown below with reference to (appendix ) that illustrates approximated element cost per square meters / metered of the detached house . Projects estimated budget cost = £150 '281 has been firmed up by multiplying all the elements ' lowest cost value per square meter
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