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Cost Planning

Cost Control Systems

Aquarius is well experienced in establishing and instituting Cost Control Systems for a wide variety of construction undertakings; inclusive the preparation of budget estimates, analysis of scheduling, markets, labour trends, etc. in order to implement a secure and effective Cost Control Program for our clients.

 

Value-Engineering Sessions and Value Management Review Studies

Coordinating Value-Engineering Sessions and Value Management Review Studies for the establishment of the various construction cost options available on a said project.

Preparing Comparative Cost Models and Cost Analysis for Functional Space Utilization and Optimization sessions.

 

Life-Cycle Cost Studies

Our firm also conducts Life-Cycle Cost Studies and the associated detailed calculations for assessing the Forecasted Operating Costs (and associated efficiencies) on small to large construction projects; for feasibility and other practical considerations.

 

Feasibility Study

At the earliest stages of a project, we offer our clients an opportunity to prepare a Feasibility Study as a means to develop the project requirements and identify a range of solutions that meet those requirements. The Feasibility Study provides an information base that can then be utilized to evaluate solutions and determine the optimal project resolution. Its level of detail within our reporting assembly at this stage will depend on the nature, complexity and sensitivities of the project.

During this stage, we recommend to our clients that our firm develops a Class D estimate of the construction costs, operating and maintenance costs, and cash flows for one or any of the sought after deliverables that are to be evaluated. Our firm can also, working with other market specialists, provide advice on feasibility studies analyzing commercial returns, profitability, financing arrangements, land acquisition, revenue forecasts and market analysis.

In the case of public, institutional and commercial construction projects, Aquarius Building Consultants typically prepares a study which will consist of an analysis of budget requirements, analysis of possible building size within a fixed budget and preparation of cost studies including operating and maintenance cost evaluations.

Our firm can also, working with other market specialists, provide advice on feasibility studies analyzing commercial returns, profitability, financing arrangements, land acquisition, revenue forecasts and market analysis.

In the case of public, institutional and commercial construction projects, Aquarius Building Consultants typically prepares a study which will consist of an analysis of budget requirements, analysis of possible building size within a fixed budget and preparation of cost studies including operating and maintenance cost evaluations.

Our role as cost planners is essential in managing our client's financial budget, beginning within the conceptual stage

 

Conceptual "Class D" Costs Estimate

During the early stages of a project, the client may request Our team to develop Conceptual "Class D" Cost Estimates that are primarily based on a Functional Program. A Functional Program is a pre-design document describing the functional requirements or user requirements of a building or renovation in sufficient detail to initiate preliminary costing. It may include space types and sizes, space finishes, space adjacencies, special mechanical or electrical services, and any equipment.

Our team will draw upon accumulated experience and recorded cost data to prepare an estimate(s) of the probable cost consistent with the known requirements. Clearly, this early assessment of cost will involve a number of basic assumptions as to the nature and construction of the project.

It is common for the client to request more than one cost option at the Conceptual stage if a site has not been selected, method of procurement has not been chosen or the client may request options for different building sizes and configurations. Fee proposals will vary depending on the services requested by the client.

The more complex projects, generally institutional developments, may also be costed at this stage based on a Facilities Program.

 

Schematic Design "Class C" Cost Estimate

At the Schematic Design stage, the Project team establishes the general scope and provides schematic drawings showing scale and relationships among the components of the project. The outcome of Schematic Design is to analysis alternative design solutions and to arrive at a clearly defined, concept design while meeting the project requirements.

Based on the client approved schematic design documents, Our team shall meet with the Project

team, review the nature and scope of the entire project and prepare for the client’s review, a Budget Cost Estimate(s) and Cost Plan that reflects the size and character of the entire Project, including the architectural, structural, mechanical and electrical systems, and such other elements as may be appropriate.

This Budget Cost Estimate and Cost Plan shall be presented as a Schematic Design "Class C" Cost Estimate, including backup sheets showing quantities, unit rates and amounts for composite or individual items of work, as well as an Elemental Cost Summary.

Our team shall, if required, meet with the client and/or Project team for the purposes of reviewing the submitted Budget Cost Estimate(s), and making any subsequent revisions. At the Schematic Design phase, the client may request from the designers, more than one conceptual design and therefore more than one Schematic Design "Class C" Cost Estimate to assist in the decision to move forward with one design option. Fee proposals will vary depending on the services requested by the client.

The agreed-upon Budget Cost Estimate shall become the Cost Plan, and shall form the basis for

Cost Control in the subsequent Design Phases.

 

Design Development "Class B" Cost Estimate

Based on the client’s approved design development documents (which at this stage should approximately 25%-33% completed), Our team shall prepare, for the client’s review, a Design Development "Class B" Cost Estimate that reflects the size and character of the entire project, including the architectural, structural, mechanical and electrical systems, and such other elements as may be appropriate. This estimate shall include backup sheets showing quantities, unit rates and amounts for composite or individual items of work, as well as an Elemental Cost Summary.

This estimate shall be accompanied by a report explaining the basis on which the estimate has been prepared (including documentation list), outlining the scope of work, any limitations or qualifications and including an elemental cost comparison highlighting any deviations from the cost plan. The report shall also include any recommendations for cost reduction if this is required to adhere to the cost plan.

If any major deviation from the cost plan is apparent, a formal cost reduction program may be offered to the client.

During the course of Design Development, Our team shall review the design documentation from time-to-time, and shall participate in evaluating and analyzing alternative configurations, materials and systems. Such input shall be on the basis of milestones agreed to with the client at the outset.

 

Working Documents "Class B" Cost Estimate

Based on the client’s approved 50%-66% contract drawings and specifications, Our team shall prepare, for the client’s review, a Working Documents "Class B" Cost Estimate that reflects the size and character of the entire project, including the architectural, structural, civil, mechanical and electrical systems, and such other elements as may be appropriate. This estimate shall be presented include backup sheets showing quantities, unit rates and amounts for each item of work, as well as an Elemental Cost Summary. If requested by the client, a Trade Summary format estimate may be provided suitable for comparison with contractors’ tenders or proposals.

This estimate shall be accompanied by a report explaining the basis on which the estimate has been prepared (including documentation list), outlining the scope of work, and any limitations or qualifications. The report shall also include any recommendations for cost reduction if this is required to adhere to the cost plan.

If any major deviation from the cost plan is apparent at this stage and was not corrected during Design Development, a formal cost reduction program may be offered to the client as an additional service and fee.

 

Pre-Tender "Class A" Cost Estimate

Based on the client’s approved Pre Tender contract drawings and specifications (which are now approximately 90%-100% completed), Our team shall prepare, for the client’s review, a Pre-Tender "Class A Cost Estimate that reflects the size and character of the entire Project, including the architectural, structural, civil, mechanical and electrical systems, and such other elements as may be appropriate. This estimate shall include backup sheets showing quantities, unit rates and amounts for each item of work, as well as an Elemental Cost Summary and a Trade Summary suitable for comparison with contractors’ tenders or proposals.

This estimate shall be accompanied by a report explaining the basis on which the estimate has been prepared (including documentation list), outlining the scope of work, and any limitations or qualifications. The report shall also include any recommendations for cost reduction if this is required to adhere to the cost plan.

If any major deviation from the cost plan prepared in the Pre-Tender Phase is apparent, and was not corrected in the Class B Cost Estimate Phase, a formal cost reduction program may be offered to the client as an additional service and fee.

 

Tender Package

As the tender package is being assembled, our team should be made aware of all changes from the documents used to prepare the pre tender update. It is not uncommon for the final details to significantly alter costs of the work. Our team can consider these changes and advise the client and design team to take appropriate action.

During the tender period, questions often arise that result in addenda being issued by the design consultants. As an additional value-added service and charge, our team may receive all of the addenda for review and report on any cost impact to the client prior to tender closing. This will enable proper appraisal of the tender results.

 

Tender Review & Contractor Selection

In the case of competitively tendered prices, our team may examine the bids together with alternative prices and the various unit prices analyze the particulars and report to the client and design team with a recommendation as to the most satisfactory tender.

In the event that the tendered prices are unacceptable, our team may assist the client and the design team in the negotiations and recommend an equitable price. Such negotiations are facilitated by reference to the PQS’s estimates.

Where a cost plus contract is to be used, our team may advise on the selection of a suitable contractor and on the form of the contract.

 

Reconciliation

Reconciliation services between our team and an Owner, client or Construction Manager may occur at any estimating phase and is charged as an additional value-added service.

 

Value Management

Value Management services may be required at any estimating phase and is charged as an additional value-added service.

 

Functional Cost Analysis & Comparative Cost Models

When required, and as an additional value-added service and charge, our team may prepare a functional cost analysis of the project, based on the accepted tender. A functional cost analysis shows the cost of various functions contained within a project, for instance, the cost of classrooms in schools or patient areas in hospitals, offices, circulation space, mechanical rooms, and the like. We also offer Comparative Cost Models and Cost Analysis for Functional Space Utilization and Optimization sessions.

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 2603 23rd Avenue S.W. Calgary, Alberta T3E 0H9

 +1.403.217.9321

 info@abcqs.ca

Copyright © 2019 Aquarius Building Consultants. All rights reserved.

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2603 23rd Avenue S.W. Calgary, Alberta T3E 0H9

+1.403.217.9321

info@abcqs.ca