Preliminary Costings
Cost planning is an important part of any construction project whether it be a new build, addition or alteration.
We will prepare Preliminary Costings for your building project to ensure you have an accurate idea of cost and feasibility before you commit additional funds to further develop the design.
What are Preliminary Costings?
At the planning stage of a project, there is often minimal information available. Most of the time you will have conceptual drawings which may include renders, floor plans, elevations, and some general notes. You need to ascertain if the project is feasible and within your affordable budget before expending more financial resources.
A Preliminary Estimate is an all-inclusive estimate based on historic pricing. It includes all measurable items both carpentry and sub-trade that make up your building project.
As part of the planning phase of a residential build, homeowners will often contact us directly. Alternatively, architects, designers or builders may contact us on behalf of the homeowner. Our role is to determine whether the project can be completed within their budget constraints.
What is included in a Preliminary Costing?
As Quantity Surveyors, we provide full Preliminary Costings that will:
- Calculate as accurately as possible the anticipated cost of the project.
- Help you establish a realistic budget – we commit to being honest & transparent when presenting our costings. If there are construction elements which do not match the proposed budget, we will identify this so there are no unwanted surprises.
- Focus on value management and cost savings – value management and cost savings are key considerations and can be calculated and offered as an alternate option when required. When the costings are over budget and needing to be reduced, we work with you to pinpoint areas where design, material choices and construction methods can result in the most cost-effective solutions for your project.
Value Management
You have received your Preliminary Costings and they’ve come in over budget. This is where Value Management comes into play. We can allow for cost comparisons to the design, material choices & construction methods to find cost-effective solutions for your project. In conjunction with your architect, we can reduce costs while maintaining a neutral effect on the overall design.
Contractor Recommendation
Once you are happy with the estimated costs and have progressed with your plans, you will be ready to engage a builder. With several years in the construction industry, we make this selection process easier. We scrutinise the contractors’ quotes to ensure you are getting the best value, not just what appears to be the lowest price.
Risk Identification, Analysis and Management
When scheduling out your Preliminary Costings, we consider the different methodologies that will need to be utilised in order to complete specific works. It is at this point that potential construction risks are identified. Once identified, we analyse scenarios to overcome or reduce the risk to enable the most cost-effective solution. As these risks will not be fully exposed until building work commences, we ensure allowances for these risks are identified and included in our costings.