M4) Compare the results of different estimation techniques on the cost for a given work activity in a major project An image extracted from (Brook, 1993) demonstrates the changes between estimation techniques applied in the 1930’s to modern times: Single rate approximate estimating – This technique is more commonly used by national bodies inclusive of the education and health services which offers a inception stage in construction. If the clientele has a certain budget to spend than it could possibly be considered by the functional units that can be provided. Such as if you was to provide a study bedroom within a student accommodation it could cost around £20,000. Using this figure you could provide this accommodation to atleast 600 students if you was to use the expenditure of roughly £12 million pounds. Where as on the other hand if the amount of units is known you can then calculate what your budget cost is going to be. …show more content…
There are various rules that needs to be implemented and also the property developers have such a much more understanding of what the cost per square metre is. The recommended building is then measured at every floor level, there will be no deductions for any internal walls, stairs or any elevator areas. Previously similar building costs are divided by the construction cost due to the internal floor space. Adjustments could be made especially for the location or the inflation; where as specification adjustments are much more harder to estimate. Specific judgements are made for the size & shape, the amount of storeys, services, ground conditions aswell as the conditions and the standard of the completed works. A separate evaluation ought to be made for any external works, demolitions, drainage and any incoming services which can be seen as being very different for comparative
3. Explain two methods that can be used in order to identify realistic estimations when developing a budget. [2.2]
|2.2 Explain the purpose of using estimations when developing a budget and ways of doing so |Question 2 Page 3 |
(TCO B) You are the project manager for three projects. You are about to estimate costs for these three projects. Given the below information on each project, recommend an appropriate estimation method and justify your answer for each.
3. Explain two methods that can be used in order to identify realistic estimations when developing a budget. [2.2]
(a) Calculate the Cost and Schedule Variances and Indexes (CV, SV, CPI, SPI) for tasks A, B, C, D, and E.
The purpose of this report is interpretation and analysis of the R-Code 2015 and application relating to surveyors when considering subdivision design. The report has divided into two parts. In the first part of report shown importance of R-code in the design of subdivision and second part shown used the part 5 ‘deemed-to-comply’ of R-codes refer to the design elements for all single house(s) and grouped dwellings; and multiple dwellings in area codes less than R40.
7.0 Budget Estimate and Financial AnalysisA preliminary estimate of the cost for the entire project is $200,000. This includes the hire of a temporary project manager, and the hours used by current employees to work on the project. Project savings comes in the form of reduced health insurance cost due to a healthier workforce that makes fewer claims.
The average usage assumption is based on the same number of people using the buildings. It could increase if more people used the buildings, or decrease if they are used less. Taking people into account by looking at expected incoming class size could give an alternate assumption. Other economic factors that could increase costs on the project is inflation, maintenance cost, and a longer than expected life of project, all of which would make the project have a lower return on investment. All of these assumptions, if changed, can change the predicted MARR, and should be considered when making the final calculations.
Seoul, South Korea, has grown rapidly since the Korean War of the 1950’s to become the worlds’ second largest metropolitan area with over 23 million residents in 2014 (National Statistics Office ( 통계청)). This growth has occurred economically as well, with an average GDP increase of 10 percent between 1962 and 1994 (The World Bank). This report looks into the development of South Korean building codes.
A luxury home in the heart of the Central Business District can cost anywhere between Rs.7.5 crore and Rs.10 crore, as quoted by builders developing high-end properties in the Egmore – Nungambakkam area. A similar home with matching features can come at a lower price elsewhere in the city. This is testimony to the importance that ‘location’ holds in the sector.
Development effort estimation is often among the first steps when considering a software engineering project. Estimation is crucial for determining the value of a project: whether it will be a project that is able to be completed, a project that is worth pursuing, and a project that is economically justified. A reasonable and informed cost estimate can only be reported to a customer after effort estimation analysis has been performed.
I calculated the cost and the duration of the project and monitored the progress of the work using the software Primavera Project Planner. As the leader of the team, it
Thus, the development of buildings, such as skyscrapers, houses, residential areas, shop lots and so on are also increasing in many areas of big cities and not-to-forget in the small town area. The governments around the globe, especially in most developing countries such as Malaysia has facing a crucial problem of housing demand which has increasing day by day. With the increase number of population in Malaysia, the growth of the industry of construction is also increasing since the people want to fulfil their needs of living. In order to fulfil the demand of housing, the demand of materials of construction by the constructors especially the contractors such as bricks has also inflating.
I hereby declare that the project entitled “Effect of housing characteristics on price and rent of residential properties in Noida sector 50/51” submitted for the BBA-Real Estate and Urban Infrastructure is my original work and the project has not formed the basis for the award of any degree, fellowship or any other similar thing.
Rylai Enterprises is a well-known company and has the consistent performance in international level. So, this is the huge opportunity for the company to run their business well by constructing single storey terraced house. By the feedback we received, there are some UMP students’ people nearby requesting a new house lot for their staying. Moreover, people who are working at UMP having a hard day to find the house. Even worse the only available house is too far away for them. As you know, house nowadays is so difficult to get because of the land available decrease year by year, yet the landlord of both locations is willing to sell the land at low price and I’m sure Rylai Company can afford any one of them. We are planning to construct affordable house for the fresh graduate students and for the adults these days. The house type is single storey terraced house with a newest design by the architect Mr Tan Kai Jun. According to Mr Tan, every single house is complete with systematic drainage system to prevent flood. In addition, the project cost should not