17108 Construction Costing and Estimating

Description

This subject examines construction cost estimating and cost planning and the procedures used by building contractors, sub-contractors and consultants when completing this work. The approach includes a mixture of theory and application, to examine techniques used by contractors when estimating the construction cost of a given design as well the techniques used by cost planners when estimating anticipated construction costs through the building design process.

The subject provides an overview of relevant industry terminology, the tendering process, progress payments, preliminaries, overheads, preparing order lists, life cycle costing, cost control and the use of historical cost data for forward planning. Additionally, the subject investigates property depreciation and the important points to consider to ensure all eligible allowances are claimed.

On completion students should know the difference between cost estimating and cost planning, be able to complete a basic cost estimate and cost plan and be in a position to critically review an estimator or cost planner’s work.