Cost Plan

When to use it:
Cost Plan 1:
This is the first formal cost plan following the Order of Cost Estimate.  It coincides with the completion of the Concept design.  This is the point where the scope of works is now defined and key criteria specified but no detailed design has yet commenced.
Cost Plan 2:
This is the second formal cost plan which coincides with the completion of Design Development.  Formal Cost Plan 2 is a progression of Formal Cost Plan 1.  It is developed through cost checking of the most significant cost elements as more detailed design information is made available from the design team.
Cost Plan 3:
The third formal Cost Plan is based on technical designs, specifications and detailed information for construction.  Formal Cost Plan 2 is a progression of formal Cost Plan 2.  It is developed through further and more detailed cost checking of the most significant cost elements as detailed design approvals are given on completion of the technical design.

Note: Your attention is specifically drawn to Clause 4.3 of our Terms of Sale.

Scope of Services

All Cost Plans are based on recently published cost data (including from Spons, Building Cost Information Service (BCIS) and other sources).  Each report includes:

  • Notes of Inclusions and Exclusions
  • Information Used Register
  • Marked up PDF versions of Drawings used for measurement purposes
  • Summary Elemental Analysis
  • Priced Measured work items with descriptions
  • Bench-marking carried out against comparable BCIS models
  • Cash flow chart ('S' curve)

Reconciliation to previous Cost Plans(s) (if the previous Cost Plans(s) was/were prepared by Mensura).We will require certain information to be provided by you before we are able to start work.  We will set this out in our Confirmation Email to you.
We normally aim to complete Order of Cost Estimates within two weeks of receipt of the last piece of information required, subject to workload.  If you have particular delivery requirements then please insert a date for delivery in the Order form prior to checking out.  Reports are delivered electronically via our Service Desk.

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Interim Valuation

The Housing Grants, Construction and Regeneration Act 1996 (as amended) stipulates that interim or stage payments are due to any party to a construction contract that has a duration of more than 45 days.  In the absence of specific requirements in the building contract default provisions apply.

For gross valuations likely to exceed £5m construction cost, please contact us for a bespoke quotation.

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Tender Document Package

A Tender Document Package provides a basis for the obtaining of competitive tenders from Contractors or Sub-Contractors.  The scope of works and basis of contract is clearly defined and tenders received are consistent, comparable and can be utilised for subsequent cost control measures.

For work likely to exceed £5m construction cost, please contact us for a bespoke quotation.

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