Elemental cost planning

Elemental cost planning

Elemental cost planning is a system of Cost planning and Cost control, typically for buildings, which enables the cost of a scheme to be monitored during design development.

It should :-
*Ensure that the tender amount is close to the first estimate, or that any likely difference between the two is anticipated and is acceptable.
*Ensure that the money available for the projects is allocated consciously and economically to the various components and finishes.
*Always involves the measurement and pricing of approximate quantities at some stage of the process.
*Aim to achieve good value at the desired level of expenditure.

Elemental cost planning is often referred to as 'designing to a cost' or 'target cost planning' since a cost limit is fixed for the scheme and the architect must then prepare a design not to exceed this cost.

See also

*Cost overrun
*Comparative cost Analysis

References

*Cost planning of buildings - Douglas J Ferry (and others)
*Cost studies of buildings 4th edn- Alan Ashworth


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