Cost Planning & Control
Anyone can plan for project costs. At Hanscomb, we plan for everything.
We are more than just numbers people, we are trusted technical advisors. For our clients, we are an essential part of the project delivery team – right from the start. We keep our clients informed on scope and cost and set them at ease, knowing that they have an independent opinion on the value of their project.
But we don’t walk away after delivering our initial cost estimate, we will continue to support our clients. No matter how realistic it is. If there is no process to monitor scope during design, there is no cost control.
As the design moves forward, we develop estimates using the most current available information. If the project is over budget, we use value engineering to bring scope back on budget before moving to the next design stage. This approach means greater cost clarity for our clients at every step for the most cost certainty before putting a project out to tender. As Technical Advisors, we can provide this same cost predictability to lenders backing the private sector group bidding on a project.
Hanscomb provides cost information presented in a format that is suitable to our client’s financial needs. We know multiple parties read our cost estimates with varying perspectives.
That’s why we use industry standards for estimating that consistently track costs for all project elements (structure, building envelope, interiors, mechanical, electrical, site, etc.). These standards facilitate the comparison of cost estimates from one project to the next and include:
- Canadian Institute of Quantity Surveyors (CIQS) Elemental Format
- Uniformat, Uniformat II and Uniformat 2010
- International Construction Measurement Standards (ICMS).
Although our Cost Planning and Control process is extensive and complex, our objectives are simple. Our focus will include:
- Make sure expenditures don’t exceed what’s been allocated for each project element
- Achieve the best value for every single dollar spent
- Balance budget spending for each segment throughout the project lifecycle
Through our Cost Planning and Control process, we establish a cost plan that accounts for all kinds of risks, including these big ones:
- Design information that’s incomplete or incorrect
- Cost escalation
- Unanticipated changes during construction
It’s a process that works harder and smarter, so you can rest easier.
“CANADIAN INSTITUTE OF QUANTITY SURVEYORS, CIQS and CIQS & Design marks are owned by the Canadian Institute of Quantity Surveyors and used under license”