Pre contract cost planning and pre contract cost controlling Essay

Pre contract cost think and pre contract cost controlling - Essay ExampleJames Nisbet was the first who conceived and developed the technique of elemental cost analysis for construction projects. Nisbet technique demanded the architects to design to cost in opposition to the approximate quantities regularity of estimating, which basically involved be a design with very little control. Thus, the elemental costing onset facilitated the client to get a more consistent pre-tender estimate, and tendered the design team a model so as to control cost at the design development stage itself. As per Nisbet, the cost planning should be developed jointly by the quantity surveyor and the architect and postulated that such close cooperation could, in the coarse run, result in the integration of the profession of quantity surveyors and the architects as one-stop supply of consultancy firms. In 1962, the cost search panel of RICS (Royal Institute of Chartered Surveyors) established the Buil ding Cost Information Services (BCIS) mainly to crumple cost data for the introduction of such cost plans. Now, BCIS has developed a national database in surplusage of 16,000 element cost analysis, which is available online now. Such data can be utilized to prepare the pre-contract approximating exploit in the construction sector together to make sure the value for money by assisting the causation to make certain about the most proper distribution of costs well within the refer project. Thus, cost management is the process of assisting the design team to design to cost instead of the quantity surveyor costing a design (Potts & Ankrah 201359).Cost management is a complete process, which make certain that the contract count is within the approved budget or cost limit of the client. The modus of the design cost control is that by employing the cost planning method which is the evaluation of existing projects into various functional elements so as to offer a means of evaluation bet ween