Cost Studies Roman Number

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BSc (Hons) in Quantity Surveying & Construction Management

i Cost Studies University of Sheffield Hallam.

Acknowledgement

It is my great pleasure to thank Almighty God who gave me courage and confident to

complete this assignment successfully. I am very grateful to the University of Sheffield

Hallam for giving opportunity to follow the BSc (Hons) in Quantity Surveying andConstruction Management course.

I would like to thank my Lecturers, Mr. N.T.K Lokuliyana and Mrs. Tharusa Randiwera

for guiding by giving necessary instruction and advice for completing the project

successfully. They have taken pains to go through the project and make necessary

corrections as and when required. I express my thanks to the International College

ofBusiness and technology and its Staff for extending support, and guidance as well.

Last but not the least I would thank my class members without whom this project would

have been a distant reality.


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iii Cost Studies University of Sheffield Hallam.

Introduction

Construction industry totally depended on the money from the ancient times. Without

money the construction cannot move a single step. So, cost and the construction have

very tight relationship. Day by day the construction cost is increasing rapidly and valueof construction shown high in local markets. Because of this clients are keep an eye on

cost estimation methods.

Nowadays, Cost estimation one of the main procedures in many sectors. Especially in

construction execution this process has been considered one the basic work. The

profession of Quantity surveyor developed to control the cost from initial stage to

completion stage. Cost estimations are carried out in several methods using different

types of techniques.

Cost estimating is one of the most important steps in project management. A cost

estimate establishes the base line of the project cost at different stages of development

of the project. A cost estimate at a given stage of project development represents a

prediction provided by the cost engineer or estimator on the basis of available data.

According to the American Association of Cost Engineers, cost engineering is defined

as that area of engineering practice where engineering judgment and experience are

utilized in the application of scientific principles and techniques to the problem of cost

estimation, cost control and profitability (C. Hendrickson 1998)

Eventually, cost estimation gives high value for the construction process and

construction industry obviously keep rely on cost estimating techniques in near future.


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iv Cost Studies University of Sheffield Hallam.

Executive Summary

Major aim of this assignment is to analyze the cost estimating techniques in the pre

contract stage of construction process. All estimating technique methods are bounded

to RIBA work plane 2007.RIBA has divide its eight pre contract stages in three maingroups, those are

Preparation Stage

Design Stage

Pre- Construction Stage

According to above three stages all cost control and cost planning process are well

explained with examples. Moreover this assignment includes method of preparingestimate for cost controlling process with the respect of above RIBA stages. This

assignment briefly analyzing about the value engineering and Life cycle costing in

construction projects. These two sections are very important in pre contract stage in

terms of cost estimation.


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v Cost Studies University of Sheffield Hallam.

Conclusion

Human being needs oxygen for exists in the world, like wise construction process need

money for successful completion. That much relationship has wide in modern world

between money and construction. Cost controlling method has initiated to control theunwanted cost in construction industry. These techniques are widely used in the world

since the cost of construction has been lifting up forward.

The term cost controlling includes several techniques which are used by different

professional in pre contract stage. As we following British standards our estimating

thingies are based on RIBA work plane. Broadly this assignment is also written

according to RIBA work plan 2007 edition.

Hopefully this assignment is a good creation about cost controlling process to develop

and improve a construction process. Every success story has painful start and end,

according to that I have gone through many references such as EBooks and journals

and even I had an opportunity discuss about the company with some senior estimators.

Almost everything has done under the assignment criteria and is really satisfied with my

job.


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vii Cost Studies University of Sheffield Hallam.

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http://constructionfield.net/cube-method-estimating/

Value management in building design and construction, (2013), [Online], Last accessed

10 th of January 2014,

http://www.designingbuildings.co.uk/wiki/Value_management_in_building_design_and_

construction

RIBA outline plan of work, (2013), [Online], Last accessed 10 th of January 2014 ,

http://www.architecture.com/Files/RIBAProfessionalServices/ClientServices/RIBAOutlin

ePlanOfWork2008Amend.pdf

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