Quantity Surveyors, Cost Planning and Estimates
As Quantity Surveyors and Construction Cost Experts, Walton Smith Consultants are acutely aware of our clients need for accurate and timely cost planning advice. We have worked closely with financial institutions, builder's and developers on projects ranging from $1- $50 million.
Our cost planning and estimating services are based on detailed measurement and pricing from the available project documentation in conjunction with our experience on a range of Industrial, Residential, Commercial, Civil, Health Care and Government projects.
Cost Planning Process
We have identified five key stages in the cost planning process. These include:
1. Budget Estimate Advice- Budget estimate advice can be prepared from a project idea or concept and provides a basis for setting realistic project budgets and cost constraints.
2. Cost Plan 1 (Development Approval)- A Cost Plan at the DA stage of a project is prepared when the composition of the building is better known. This is because main planning issues have been resolved, however finishes provisional items etc may not have been finalised.
3. Cost Plan 2 (50% documentation)- Once documentation has reached approximately 50% of the final design, structural components such as sub-structure details and super-structure details are better known.
4. Cost Plan 3 (Pre-tender or Construction Certificate)- Pre-tender estimates indicate the expected project cost accurately from complete project documentation. It is an independent point of comparison once tenders have been received from builders.
5. Tender Analysis- Once tenders have been received from potential builders, each tender is analysed to ensure an ?apples with apples? comparison can be established. Selecting the lowest tender is not always the best option. What if the scope of their tender differs to that of those with a higher price, or worse still, they have missed a crucial cost item in their tender? These risks can be mitigated by the tender analysis stage of the cost planning process.
These stages can be tailored to individual projects, depending on the project type, client requirements and the level of detail required.
The Cost Planning and Estimating can also identify construction cost savings, by analysing alternative materials and construction techniques available.