Cost Planning

The key to effective cost management is to enable clients’ requirements to
be identified and detailed so that the scope of works is fully identified in
the cost plan.

The cost plan is the basis upon which the control of the design development
is made. It provides an essential tool to enable projects to be delivered
within budget and on time. Risk can thus be identified and mitigated at an
early stage. A cost plan often highlights areas of risk and uncertainty and
helps to  clarify issues of scope, specification and programme all of which
affect the outcome.

Where clients require a risk analysis, this can be undertaken to establish a
likely out turn cost and to develop a risk mitigation plan. In this way
costs can be managed and reported at the appropriate stage of the project.

Accurate and impartial advice is essential if costs are to be managed
effectively. Efficient and timelt cost reporting allows the client to take
proactive steps as issues develop.

An essential element of successful cost control is through incorporating
guidelines and procedures of cost control throughout all stages of the
project from initial budgets to the design stage and throughout
construction.