QSP7BEC: Explains the need to update the cost advice from 2019 identifying reasons with examples: Building Economics Assignment, UCEM, UK

University University College of Estate Management (UCEM)
Subject QSP7BEC Building Economics Assignment

You are about to have a meeting with the client, in readiness for that discussion prepare a briefing note that:

a. explains the need to update the cost advice from 2019 identifying reasons with examples, and supported by market data, of how costs may have changed due to global events since the original cost advice was issued.

b. critically analyses, using two examples of design factors, how any change to the scope of work may affect the estimated construction cost. Include sketches and calculations related to the project scenario to aid explanation and provide a visual understanding of the cost effect that the design options would have on the construction cost of the building.

c. critically discusses why adequate time should be allocated to the Preparation and Briefing stage carried out at Stage 1 of the RIBA Plan of Work 2020. Your discussion should include an explanation of the approach you will take to establish a cost limit and factors which might influence the accuracy of the cost estimate.

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