ABSTRACT
The development of cost planning and cost control techniques in the construction industry can be seen through a range of different phases. The principle was then established to prepare estimates for the costs of construction prior to its execution on site. There are numerous examples of projects that had to be abandoned because costs were not considered properly in advance of construction. Some attempts have been made to model costs in different ways through statistical techniques, simulation and expert systems. The emphasis on building costs also switched from that which concentrated on initial costs alone towards a more holistic view of costs over the entire life cycle of the project. Project management began to be seen as a skill that clients would require in the future and several practices began to offer this service in addition to their more defined activities.
