ABSTRACT
Estimating by means of priced approximate quantities is always more accurate than by using overall building prices per square metre. Prices given in this chapter, which is arranged in elemental order, include for all the incidental items and labours which are normally measured separately in Bills of Quantities. They include overheads and profit but do not include for main contractors preliminaries. The cost targets within each formal cost plan approved by the employer will be used as the baseline for future cost comparisons. Each subsequent cost plan will require reconciliation with the preceding cost plan and explanations relating to changes made. In view of this, it is essential that records of any transfers made to or from the risk allowances and any adjustments made to cost targets are maintained, so that explanations concerning changes can be provided to both the employer and the project team.
