Factors for Early Stage Building-Free-Samples-Myassignmenthelp.com

Questions: 1.You are required to select one group and explain how the factors in the chosen group generally affect accuracy of building cost estimating. 2.Compare and contrast in a table commonly used preliminary estimating techniques including elemental estimating in the construction industry, covering criteria such as description of the method, accuracy levels, level of information required, popularity in the industry and convenience to use. Answers: 1.Early cost estimates The early cost estimates are for the construction projects that are set under the high degree of uncertainty. This is mainly due to the limited forms of the information that are for the accuracy of the cost estimates. Here, there is no variation when it comes from the exact costs and how the cost is incurred for the execution of project. (Al-Zwainy Hadhal, 2016). The estimated amount helps in the proper decision making with the implementation of the cost set at the later time. The importance of the preliminary is mainly due to the reference for the commencement of the project with reference for the next stage. The accuracy cost is important that works on the stages of project development. Factors for early stage building The costs estimation is based on forecasting the project costs and then work on the performance which is related to the amount of information which is for the detailed designing. Here, the pre-construction is for the three important aspects with biasing, consistency and the accuracy of the project estimate. The biasing is also for the average differences that is set in between the real prices and the forecasted ones. Hence, for this, it is important to map with the degree that is for the variations created through the biasing. The estimates are important for the projection and to calculate the success that depend on the precise value of the accuracy of the project estimation cost at different stages. (Akintoye Fitzgerald, 2000). It has been seen that the cost of the construction for the material includes the shipping charges and the taxes which are applicable. The importance is based on the variations and the calculations that are for the construction of the material cost. The const ruction estimates are depending upon the needs that are important to be factored with the current construction cost indices. They are set for the labor wage rate where there are variations based on the place to place patterns. The issues related to the construction site conditions could also lead to the increase in the cost of construction like the poor soil conditions, wetlands and the sensitivity area. The endangered species and the habitat could lead to the increase of the cost with the variations that are not impotent at the time of estimation. The quality and the plan are depending upon the reduced construction time with the proper execution to handle the site depending unpin the delay. Along with this, there are other forms of the regulatory requirements which are important for the costs that are considered for the cost estimates. The insurance requirements with the administering of the different tools and the equipment is important for the proper performance bond and the paym ent bond that is set at the normal costs of the construction projects. Market conditions which affect the factors: Material Price, quality availability For the construction buildings, the management is important for a proper project planning and control. Here, the procurement and the purchase cost is important for the reduced costs. The poor material management can also lead to the large and the avoidable costs that is set at the time of construction. Hence, when the material is purchased early, then it should be tied with the inventory of the materials. The quality is also important for the procurement along with the availability of the material. For this, the activities need to be based on the schedule of the project with the fast track or the tight schedule so that the easy availability of the material is possible. Along with this, the quality is administered with the planning systems and for the master production schedule, inventory records and the product component lists. This helps in ordering the problems and setting the inventory based on the organizational management problems. Here, the inventory is also found to be low when there is a new order which is recommended. Hence, for this, the items are found to be non-standardized or kept in the inventory form. The material procurement and the management is based on easy handling of productivity from 1.92-man hours per unit without a system. (Harrington Johnston, 2016). With the change in economy, there are issues related to the changing material pricing. The price increase is considered to be the natural part which is for working for a particular business. This is related to providing a better associate functioning that relates to handle the offsets with the measurement of the rising insurance costs. The manufactures need to handle the competitors so that there is a proper balance of the quality and the pricing that is used for the construction. The material management is important for the proper setup and controlling the correct quality. This is based on specific formats where there are reasonable costs patterns and the points are related to the representation of the cost of the work and how the improved opportunities are able to work with the improvement in the substantial savings. There is a possibility that the materials deteriorate at the time of storage and get stolen till the time a proper care is taken for the same. Hence, for this, the maj or focus is on the productivity in the construction where the different factors are related to the internal workforce and the factors with the leadership. There are materials and the equipment to take hold of the supervisions with the projects related to the characteristics of security, quality and the other related external factors. 2. Preliminary Estimating Techniques 1. This includes the activity to work on the execution of the task base on a stipulated sum where the technique is mainly to forecast any of the cost incurred for the building or the construction. 2. The control is to make sure of the forecast of the project along with assisting the clients with the financial commitment to the project. There is a possibility to alter the cost with the request from the client. (Taranth, 2016). 3. The method used are unit, cubic and the floor area. 4. The selection is based on the information and the time which is important for the Quantity Surveyor with the total type of cost data. the cost estimate is for the accommodation and to work on the designing with the proper calculation from the sketch designing. (Brook, 2016). 5. The major advantage is the fast and the easy method of the unit method which is used with the easy preparation of the monetary allocations. Here, the cubic method is based on the estimations where the floor area is for the estimations where the client and the architect could work on understanding the concept of the floor area. It is then associated to the concept of the volume method where the cost data is from the previous methods. Elemental estimating 1. This is based on the comparing design alternatives which is important when the client has a budget and want to check for the best economic designing. The estimates are for the secured financing and the presentation for building the potential inventory, financier etc. 2. The elemental cost plan can help in keeping a check on the costs with proper designing stage that is set prior to the preparation of the Bills of Quantities. 3. Here, the major focus is on the elemental cost analysis which is important for the people to involve in the project and show the cost breakdown by the building of the elements. 4. The standards are set to identify and adjust depending upon the cost planning where it is important to keep the budget of the client in mind at the time of designing. Here, the main elements are analyzed with the BOQ items which are closer to the tender value and for the plan of adjustments. 5. The elemental designing is for the establishment of the cost of constructing a project where the analysis is based on the elemental basis of the other similar projects. The detailed advice is set for the designing with the approximate qualities. References Akintoye, A. and Fitzgerald, E., 2000. A survey of current cost estimating practices in the UK.Construction Management Economics,18(2), pp.161-172. Al-Zwainy, F.M.S. and Hadhal, N.T., 2016. Application Artificial Forecasting Techniques in Cost Management.Journal of Engineering,22(8). Brook, M., 2016.Estimating and tendering for construction work. Taylor Francis. Harrington, P. and Johnston, M., 2016. Commercial Building Learning Rates Final Report. Taranath, B.S., 2016.Structural analysis and design of tall buildings: Steel and composite construction. CRC press.