Assessment requires the student to prepare a preliminary estimate for the owner of a proposed residential building to be constructed in Sydney’s CBD. There are two schemes being considered (Scheme A and Scheme B, drawings can be found from our Assessment 2
Folder). You have been given the responsibility to make sure that the design team and the client are aware of the cost of the two alternatives. Upon completion of this assignment, students are expected to be able to:
1. Provide an Indicative Cost Plan (Elemental Cost Plan) for the two design options (Scheme A and Scheme B); As only conceptual design information is available, certain assumptions will need to be made within the cost plan in regards to structure, finishes and fittings, services, etc.. The indicative cost plan should include the following:
– Construction costs (at stated base date, May 2022)
– Estimated inflation to probable tender date of October 2022
– Estimated increased costs payable to contractors during the construction period (2022-2024)
– Contingencies
– Professional fees
– Any omissions or exclusions from the estimate.
2. Compare the two options to make a recommendation base on cost merits. Reasons and rationale for the best scheme need to be detailed.
Students are encouraged to apply their own practical knowledge and experience, combining with ‘Public Cost Data Reference’ documents (e.g. Rawlinsons Australian Construction Handbook, Cordell’s Building Price Book, AIQS Building Economist, sources from practice, or similar) to complete the task. Students should also apply their commercial and economical knowledge combining with the current market situation and the future market prediction to make the recommendation.
