Construction Tuts

Advantages and Disadvantages of Cost Planning

Advantages and Disadvantages of Cost Planning

Cost Planning is a statement of how the design team proposes to distribute the available money among the elements of the building. The cost planning can be adjusted to design requirement. In practical sense, the CP starts with the development of a figure (or cost) to allow client to decide whether the project is feasible. Early cost planning has major benefits for construction projects.

Cost planning is used to monitor and control the estimated construction costs of a project to ensure you get accurate information on expenditure and progress at every stage. Cost Planning is the use of a Cost Model for “should-cost” forecasting to make informed decisions. Often performed for:

Quantity Surveyors are proving there is a lot of added value in getting them involved at the ground level of a new project, rather than at the tail end of the design process. Many developers are turning to early cost planning for a number of reasons.

Advantages of cost planning

Disadvantage of cost planning

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