BASICS of COST PLANNING & COST ESTIMATE - Hong Kong ...
BASICS of COST PLANNING & COST ESTIMATE - Hong Kong ...
BASICS of COST PLANNING & COST ESTIMATE - Hong Kong ...
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TYPES OF PRE-CONTRACT <strong>COST</strong> <strong>PLANNING</strong><br />
B. ELEMENTAL <strong>COST</strong> <strong>ESTIMATE</strong><br />
Elemental Quantity<br />
• Design information (e.g. Architect’s first sketch design)<br />
• Analysis <strong>of</strong> previous similar projects<br />
Elemental Unit Rate<br />
• Location factors<br />
• Specification level<br />
• Construction methods<br />
• Cost analysis <strong>of</strong> previous similar projects<br />
• Adjustment <strong>of</strong> price index<br />
Allowance for<br />
• Preliminaries<br />
• Contingencies<br />
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