Cost Studies of Buildings

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ISBN: 9780582369092 | 0582369096
Cover: Paperback
Copyright: 11/1/1999

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The study of building costs is no longer restricted to the analysis of tenders, final accounts and capital cost prediction. Athough these areas remain important, the study has moved towards whole life costs and a more holistic approach. This relates costs not just to space but also to the activities undertaken in that space. This new third edition of Cost Studies of Buildings has been extensively revised and restructured to reflect this trend. It provides a practical guide to the different methods of forecasting, planning and controlling costs associated with building works, as well as analysing the economics of efficient and effective use of buildings, space, plant and equipment.

Preface to the third edition

xii

Preface to the second edition

xiv

Preface to the first edition

xvi

Acknowledgements

xviii

SECTION 1 COST CONTROL

Introduction

(16)

Learning objectives

(1)

What this book is about

(1)

The purpose of cost control

(1)

The importance of cost control

(1)

Cost, price and value

(1)

Cost advice

(1)

Contractual arrangements and their effects on costs

(2)

Construction economics

(2)

Economic analysis objectives

(1)

Design method

(4)

Building economic theories

(1)

Environmental impact of the construction project

(3)

Self assessment questions

(1)

Bibliography

(1)

History Of Building Economics

(11)

Learning objectives

(1)

Introduction

(1)

Building economics

(1)

Standard texts

(2)

Trends in building economics

(2)

Reasons for change

(1)

Historical context

(6)

Self assessment questions

(1)

Bibliography

(1)

The Construction Industry

(13)

Learning objectives

(1)

Introduction

(1)

The importance of the construction industry

(2)

The construction industry as an economic regulator

(1)

The development process

(1)

Construction firms

(1)

The professions

(2)

Research and development

(5)

Self assessment questions

(1)

Bibliography

(4)

SECTION 2 COST INFORMATION

Cost Data

(33)

Learning objectives

(1)

Introduction

(2)

Characteristics of cost data

(1)

The hierarchical structure of cost data

(3)

Accuracy and consistency

(1)

Cost feedback

(3)

Price books

(5)

Public sector price guides

(1)

Monthly cost information

(1)

Priced bills of quantities

(2)

Price analysis

(1)

Cost analysis

(7)

The building cost information service

(2)

The BCIS Quarterly Review of Building Prices

(1)

Building Maintenance Information

(1)

International comparison of construction costs

(6)

Self assessment questions

(1)

Bibliography

(1)

Design Economics

(19)

Learning objectives

(1)

Introduction

(1)

Client's requirements

(1)

Value for money

(1)

Factors to consider

(12)

Life-cycle costing

(1)

Element evolution

(2)

Conclusions

(2)

Self assessment questions

(1)

Bibliography

(1)

The Economics of Quality

(14)

Learning objectives

(1)

Introduction

(1)

What is quality?

(1)

Quality systems

(2)

Quality control

(1)

The `M' factors affecting quality

100

(1)

Quality standards

101

(1)

Categories of quality costs

102

(1)

Economic assessment

103

(3)

Quality considerations

106

(3)

Conclusions

107

(1)

Self assessment questions

107

(1)

Bibliography

108

(1)

Indices And Trends

109

(18)

Learning objectives

109

(1)

Introduction

109

(1)

Constructing an index

110

(1)

Uses of index numbers

110

(2)

Laspeyre's and Paasche's indices

112

(1)

Difficulties in the use of indices

112

(2)

Cost and price indices

114

(3)

Other published indices

117

(2)

Regional variation

119

(1)

Measuring trends

120

(7)

Self assessment questions

125

(1)

Bibliography

125

(2)

Cost Analysis

127

(45)

Learning objectives

127

(1)

Introduction

127

(2)

Definitions

129

(1)

Preparation of a cost analysis

130

(1)

Principles of analysis

131

(1)

Elemental cost studies

132

(1)

Preliminaries

133

(1)

Substructure

134

(4)

Superstructure

138

(21)

Internal finishes

159

(3)

Fittings and furnishings

162

(1)

Engineering services

163

(6)

External works and drainage

169

(3)

Conclusions

170

(1)

Self assessment questions

170

(1)

Bibliography

171

(1)

Taxation, Grants and Investment

172

(20)

Learning objectives

172

(1)

Taxation

172

(1)

Value-added tax

173

(1)

Corporation tax

174

(7)

Financial assistance for development

181

(4)

The effects of taxation and grants on cash flow

185

(1)

Investment

185

(2)

Property investment and equities

187

(1)

Property investment

188

(4)

Self assessment questions

190

(1)

Bibliography

191

(1)

Cost Research And Innovation

192

(21)

Learning objectives

192

(1)

Introduction

192

(1)

Cost research philosophy

193

(1)

Collaboration with practice

194

(1)

Developments in quantity surveying

195

(1)

The research process

196

(4)

Research methods

200

(3)

Research organisations in the construction industry

203

(2)

Research dissemination

205

(1)

The future

206

(7)

Conclusions

208

(1)

Self assessment questions

209

(1)

Bibliography

209

(4)

SECTION 3 COST PRACTICE

Development Appraisal

213

(31)

Learning objectives

213

(1)

Introduction

213

(1)

Development value

214

(1)

General determinants of value

214

(1)

Investment appraisal

215

(1)

Methods of valuation

216

(3)

Valuation tables

219

(7)

Developers' budgets

226

(8)

Conventional methods of investment appraisal

234

(3)

Discounting methods

237

(1)

Optimal investment criterion

238

(1)

Sensitivity analysis

238

(1)

Cost-benefit analysis

239

(5)

Self assessment questions

242

(1)

Bibliography

243

(1)

Pre-Tender Price Estimating

244

(26)

Learning objectives

244

(1)

Introduction

244

(1)

Estimate classification

245

(1)

Methods

245

(10)

General considerations

255

(2)

Other factors

257

(7)

Preparing the estimate

264

(6)

Conclusions

268

(1)

Self assessment questions

268

(1)

Bibliography

268

(2)

Cost Planning

270

(35)

Learning objectives

270

(1)

Introduction

270

(2)

History and development

272

(1)

The cost planning process

273

(5)

Cost limits

278

(4)

Elemental cost synthesis

282

(4)

Example of a cost plan

286

(17)

Construction budget

303

(2)

Self assessment questions

303

(1)

Bibliography

303

(2)

Cost Modelling

305

(25)

Learning objectives

305

(1)

Introduction

305

(3)

Types of cost models

308

(1)

Purpose of cost models

309

(1)

Classification of cost models

310

(1)

Trends in cost modelling

311

(1)

Empirical methods

311

(1)

Regression analysis

312

(3)

Simulation

315

(6)

Heuristics

321

(2)

Expert systems

323

(2)

Value-for-money considerations

325

(1)

Development of models

326

(4)

Conclusions

326

(2)

Self assessment questions

328

(1)

Bibliography

328

(2)

Life-Cycle Costing 1: Factors to Consider

330

(24)

Learning objectives

330

(1)

Introduction

330

(2)

The importance of long-term forecasting

332

(1)

Buildings' life

332

(2)

Deterioration and obsolescence

334

(2)

Physical deterioration

336

(2)

Obsolescence

338

(3)

Component life

341

(4)

Problems with component life data

345

(2)

Inflation

347

(2)

Discount rate

349

(2)

Rate of interest

351

(1)

Taxation

352

(2)

Self assessment questions

352

(1)

Bibliography

352

(2)

Life-Cycle Costing 2: Practice

354

(29)

Learning objectives

354

(1)

Life-cycle costing applications

354

(3)

Life-cycle cost plan

357

(1)

Costs-in-use

358

(4)

Calculations

362

(15)

Forecasting change

377

(2)

Historical perspectives

379

(4)

Conclusions

380

(1)

Self assessment questions

381

(1)

Bibliography

381

(2)

Value Management

383

(13)

Learning objectives

383

(1)

Introduction

383

(1)

Origins of value engineering

384

(1)

Terminology

384

(2)

Methodology

386

(1)

Value management workshops

387

(1)

Cost-value reductions

388

(1)

The what scenarios

388

(2)

Unnecessary costs

390

(1)

Creativity

391

(2)

Other issues to consider

393

(3)

Self assessment questions

394

(1)

Bibliography

395

(1)

Risk Analysis and Management

396

(12)

Learning objectives

396

(1)

Introduction

396

(1)

Risk and uncertainty

396

(1)

The risk management process

397

(2)

Types of risk

399

(1)

Dealing with risk

400

(1)

Some techniques for dealing with risks and uncertainty

401

(3)

Risk analysis using probabilities

404

(4)

Conclusions

406

(1)

Self assessment questions

406

(1)

Bibliography

406

(2)

Post Contract Cost Control

408

(17)

Learning objectives

408

(1)

Introduction

408

(1)

Measurement contracts

409

(2)

Cost-reimbursable contracts

411

(1)

Budgetary control

412

(1)

Client's financial reports

413

(3)

Client's cash flow

416

(1)

Contractor's cost control

417

(2)

Contractor's cash flow

419

(2)

Cost comparison

421

(1)

Project cash flow

422

(3)

Self assessment questions

423

(1)

Bibliography

424

(1)

Facilities Management

425

(17)

Learning objectives

425

(1)

Introduction

425

(1)

Overview of facilities management

426

(2)

Relevance of building costs

428

(2)

Operations management

430

(7)

Space management example

437

(5)

Conclusions

441

(1)

Self assessment questions

441

(1)

Bibliography

441

(1)

Index

442

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Cost Studies of Buildings

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Table of Contents

Supplemental Materials

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