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Architecture engineering, Construction engineering
Cost overruns are commonplace on construction projects.
One of the most important tasks carried out by quantity surveyors (QS) involves providing advice to clients and design team colleagues to enable the design to be finalised within the approved budget. This financial management process is referred to as cost control. Cost control seeks to deliver a high degree of cost certainty during the various stages of the building project in order that the project can be completed within budget. Successful projects are those which are delivered to the required quality standards, on time, and within budget. Effective cost management therefore is vital to the successful outcome of building projects. This study examines how quantity surveyors can make important contributions to the effective management of design costs by providing realistic early cost advice, planning how budgets should be allocated to the various elements of the project, actively monitoring the evolving design, advising the client and members of the design team of the likely cost implications of their design decisions, and proposing solutions where costs appear to be exceeding the approved budgets. This study provides an introduction to the process of controlling costs during the design stage of a ‘traditionally’ procured building project up to the stage where the contract documents are prepared.
The study is addressed to Irish students undertaking undergraduate and conversion masters courses in quantity surveying and construction management disciplines.
Cunningham, T. (2015) Cost Control during the Pre-Contract Stage of a Building Project – An Introduction. Report prepared for Dublin Institute of Technology, 2015. doi:10.21427/83w4-r689