Intro to the cost planning process
The cost planning for a public building project is a complicated process. It involves the collection of ideas, creation of alternatives, weighing various options, prioritizing, selecting, and making decisions (e.g., allocating money between construction, maintenance, and management). It is a process that is repeated throughout the life of a project and involves stakeholders from many disciplines, such as planning, public affairs, and communications. In addition to the basic planning concerns, cost planners must also consider the physical and social environment (e.g., location, weather, etc.). These additional concerns include, but are not limited to, issues such as cost, time, and scope, as well as the political, logistical, and financial environments
Factors impacting construction cost planning
There are many factors that influence the cost planning of public building projects in New Zealand. The first factor is the size of the project. The larger the project, the higher will be the cost. The second factor is the complexity of the project. These include the client’s identity and goals, the nature of the project, who is responsible for designing, the selection of procurement methods, current market circumstances, and regulatory restraints. Many of these elements are interconnected. Most of the cost planning for construction projects is done by the construction manager, who is responsible for bringing all of the different costs together and deciding on the final price of the construction project. Below is the description of each factor.
Clients Identity and Goals affect the cost planning of a public building project
The identity and goals of the client are two factors that influence the cost planning of a public building project. The first factor is the identity of the client. The client of a public building project can be the government or a private business. The second factor is the goals and requirements of the client.
When a client has a clear idea of the look and feels they want for their space, the project manager can better understand the cost implications of their recommendations. This understanding enables the project manager to provide better cost estimates and ultimately produce better results for the client.
The selection of procurement method
Construction procurement is the process through which businesses obtain the materials, services, and equipment required to complete construction projects. Building procurement refers to the many processes and procedures used to purchase construction goods and services. The procurement strategy defines how the project will be structured and assigns responsibilities for design, how the work will be coordinated, and on what pricing basis the contract will be granted. A public building project’s cost planning is also influenced by the selection of procurement strategy.
The impact of the public building’s nature and design
The attributes and design of the building also affect the cost planning of a public building project. The design and construction of the project must be according to the requirements of the client. There are no two same construction projects; there is no such thing as an ordinary building project. The cost of the structure is defined by its attributes, which are mostly chosen by the architect. In many circumstances, the design alternatives are nearly endless, and the associated costs might be impossible to predict.
Effect of legislative constraints on the cost planning of a public building
This impact occurs as a result of regulations, laws, and other constraints that restrict the actions of a project team. Common law governs the rights and obligations of contractual parties not just to one another, but also to society as a whole. For example, the construction of a public building requires the approval of the governing body of the municipality in which the building is being constructed.
The economic effects of the construction of public and private buildings can have a significant impact on cost planning. The type and location of the construction project also affect the economic effects.
Hire TotalQS for cost estimation and quantity surveying of your construction
TotalQS offers construction quantity surveying services. We estimate the cost of all supplies required to complete your project. Our data professionals will assist you with the amount take-off for your building. Our data reports will include descriptions of qualities, quantities, and cost estimates. It will finish your assignment on schedule.
Our specialists will also estimate the cost of your public building. Before the project plans and specifications are created, the budget is estimated. For your build, we will give a budget estimate and financial strategy. Our team will estimate the cost of the building during the preliminary phase before beginning actual construction. We’ll provide you with a low-cost budget estimate. Learn more about TotalQS here.