NRM Cost Definitions

Mind Map by , created over 6 years ago

Construction Technology and environmental services T013 Mind Map on NRM Cost Definitions, created by alison_patey0437 on 04/27/2013.

Created by alison_patey0437 over 6 years ago
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NRM Cost Definitions
1 Authorised budget
1.1 approved estimate value
2 Base date of cost data
2.1 date of the rates/prices taken 4 benchmarking for a basis for caluclations
3 Base cost estimate
3.1 estimate without risk or inflation
4 building works
4.1 Componants measured + incorporated in 2 elements 1 2 8 (substructure/superstructure etc).
5 building work estimate
5.1 sum of cost target for elements 1 to 8
6 component
6.1 measured item that forms a part of an element
7 construction inflation
7.1 allowance in OofC/CP for fluctuations in plant/labour/materials from date of tender return to mid-point of construction period.
8 cost check
8.1 comparing current est. costs against previous cost targets for elements + sub elements
9 cost per functional unit
9.1 unit rate X no.functional units = building works est. (exc prelims; OH&P)
10 £/m2 or GIFA
10.1 unit rate when X by GIFA = total building works est (exc. Prelim & OH&P)
11 cost target
11.1 recommended total expenditure for an element
12 Deflation
12.1 downward movement of av level prices and/or costs
13 element
13.1 maj part of a group element e.g. wall finishes
14 Element Unit Quantity (EUQ)
14.1 unit of measurement that relates soley to quant of the element or sub element e.g. area of ext walls or area of windows
15 Element unit rate (EUR)
15.1 total cost of an element/ EUQ
15.2 e.g. EUR of ext wall = total cost 4 ext walls/ EUQ of ext walls
15.3 inc. cost for materials/labour/plant/prelims/OH&P
15.3.1 EUR can Exclude prelim/OH&P/& other allowances such as risk
16 Element cost plan
16.1 breakdown of cost limit into target costs of each element
16.2 shows distribution of cost amongst elements
16.3 provides work breakdown structure (WBS) and cost breakdown structure (CBS) which helps for work packages
17 Elemental Cost analysis
17.1 full apraisal of costs in prev constructed bdg - provide info 2 assit in estimating costs of future bdgs.
17.2 use as a basis for cost elemental cost plans
18 Elemental Method
18.1 budget setting technique
18.2 OofC based on an elemental B.down of a bdg project. uses element unit quantities (EUQ) and element unit rates (EQR)
19 Employer
19.1 owner/dev
20 Enabling works
20.1 work completed ahead of main building contract
20.1.1 e.g. demos/cont land rem/soil stablisation
21 Estimate Base date
21.1 date cost ,lmit est
21.1.1 helps with calc of inflation
22 Facilitating works
22.1 component in group 0
22.1.1 e.g. demos/ soil stabilisation
23 Facilitating works Estimate
23.1 costs of group 0
23.1.1 exc. bdg wks est./ prelims/OH&P
24 Facilitating works & Building Works estimate
24.1 cost target of grps 0 to 8
24.1.1 Exc. prelims/OH&P
25 Formal cost plan
25.1 elemental cost plan reported to emp on completion of a specific RIBA Work Stage/ OGC Gateway
26 Functional Unit
26.1 unit of measurement used to represent the prime use of the building e.g. hospital bed/hotel bed/school pupil
27 Functional unit method
27.1 budget setting tech - selecting a functional unit X projected no, of units by an appropriate cost/ functional unit
28 Gross External Area (GEA)
28.1 Area of the bdg measured externally (ext face of perim walls) at each floor levell
29 Gross Internal Floor Area (GIFA)
29.1 Area of bdg measured 2 internal face of perimeter walll @ each floor level
30 Group Element
30.1 heading used 2 describe facets of elemental cost plan e.g. substructure
31 Inflation
31.1 upward movement of av. prices or costs
32 Main Contractor (MC)
32.1 MC respon 4 total construction and completion process of the building projj.
32.2 Named a Prime contractor in Public sector/defense projects
33 MC OH&P
33.1 Assoc with head office admin proportioned to each contract plus MC return on capital investment
33.2 Excl. subbies OH&P as its included in unit rates
34 MC Preliminaries
34.1 Items that cannot be allocated to a specific element
34.2 Inc. e.g. temp services; site staff; site est.
35 Net Internal Area (NIA)
35.1 Usuable area within a bdg measured to int face of perim walls @ each floor level
36 OGC Gateways
36.1 key decision pts wihtin the OGC gateway process
37 OGC Gateway process
37.1 process of examin programmes + proj @ key decision pts in LC
37.2 Look ahead 2 provide assurance that emp. can progress 2 nxt stage
37.3 OGC Gateway 1 to 5
37.4 normally 3 reviews before commit 2 invest
37.5 Public procurement
37.5.1 emphasis 2 exam business case which req. assessment of the total dev. cost of bdg.
38 Option Costs
38.1 est. of cost for various design solutions
39 Order of Cost Estimate (OofC)
39.1 determine possible cost of bdg in early design stage
40 Prime Cost Sum
40.1 sum of money included in a unit rate 2 b expended on mat/goods from suppliers
40.1.1 e.g. supply only ceramic tiles/ furniture etc.
40.2 excl. fixing/install/ancillary/sundry materials or MC/subbies design fees,prelims, OH&P
41 Residual risk
41.1 risk retained by emp.
42 Retail Area
42.1 NIA for retail
43 RIBA Plan Of Work
43.1 procedure dealing with steps in decision making.
43.2 identifies responsibilities of design team @ each stage

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