Budget Development
What Is Budget Development?
It's the first estimate of a project cost and is usually the most important one as the most critical decisions are based on it. This estimate, once approved, becomes the budget.
The Benefits
- We offer a thorough and detailed approach to creating the most reliable initial estimate possible.
- Accurate estimates ensure smooth project approval and success.
- Overestimating or underestimating can lead to significant issues.
Cost Management
What Is Cost Management?
Cost Management is the process of planning and controlling the project’s expected cost. Expected costs are calculated while the project is still in the design stage and are approved beforehand.
The Benefits
- Involves planning and controlling project costs from design to completion.
- Enables informed decision-making and early cost adjustments while the cost of making changes is minimal.
- Helps keep expenses within the approved budget.
Milestone Estimates
What Are Milestone Estimates?
Milestone Estimates occur at predetermined stages in the design process, intended to ensure the design remains on budget so there are no cost surprises after the design is finalized. As the design progresses, more details are added to the construction drawings and documents. At the earlier stages of design, the Quantity Surveyor not only quantifies the detail in the design but also interprets what will be included in the design at later stages.
The Benefits
- Expert cost predictions of materials and labour before the detail has even been written.
- Allows for future cost inclusions in later stages with no surprises
- Tailored project design milestones
Cash Flow Development
What Is Cash Flow Development?
Cash Flow Development provides an analysis and plan of how much money is being paid out and when compared to the availability and release of available financing as applicable.
The Benefits
- Plans cash outflows and financing availability.
- Ensures financial success by matching expenditures with available funds.
Risk Analysis
What Is Risk Analysis?
Risk analysis identifies, assesses, and manages financial risks associated with construction projects to mitigate potential cost overruns and project delays.
The Benefits
- Identifies and evaluates potential project risks in advance.
- Develops contingency plans and strategies to manage risks.
- Continuous monitoring and updating of risk registry.
- Risks are easier to manage
- With lesser negative cost impact.
Value Analysis & Value Engineering
What Are Value Analysis & Value Engineering?
Value Analysis & Value Engineering identifies opportunities to improve project value by analyzing functions, materials, and design alternatives without compromising quality or performance.
The Benefits
- Provides alternative ways to make it more cost-effective and sustainable while maintaining the requirements, capital, operating budget and time frame.
- Comprehensive assessment of functions, capital cost, planning, design, life cycle cost, and sustainability perspectives.
- Ensures long-term value and functionality.
Parallel Estimating & Peer Review
What Is Parallel Estimating & Peer Review?
Parallel Estimating & Peer Review is when two independent, qualified Quantity Surveying teams prepare cost estimates at the design milestones and reconcile their estimates to each other and is often used on large, complex projects.
The Benefits
- Independent cost estimates by two Quantity Surveying teams
- Adjustments based on variances found in two estimate
- Enhances risk mitigation and cost certainty