NRM1 Cost Management Handbook

The definitive guide to measurement and estimating using NRM1, written by the author of NRM1 The 'RICS New rules of measurement: Order of cost estimating and cost planning of capital building works' (referred to as NRM1) is the cornerstone of good cost management of capital building works projects - enabling more effective and accurate cost advice to be given to clients and other project team members, while facilitating better cost control. The NRM1 Cost Management Handbook is the essential guide to how to successfully interpret and apply these rules, including explanations of how to: quantify building works and prepare order of cost estimates and cost plans use the rules as a toolkit for risk management and procurement analyse actual costs for the purpose of collecting benchmark data and preparing cost analyses capture historical cost data for future order of cost estimates and elemental cost plans employ the rules to aid communication manage the complete 'cost management cycle' use the elemental breakdown and cost structures, together with the coding system developed for NRM1, to effectively integrate cost management with Building Information Modelling (BIM). In the NRM1 Cost Management Handbook, David Benge explains in clear terms how NRM1 is meant to be used in familiar quantity surveying tasks, as well as a range of activities of crucial importance for professionals in years to come. Worked examples, flow charts, diagrams, templates and check lists ensure readers of all levels will become confident and competent in the use of NRM1. This book is essential reading for anyone working with NRM1, and is the most authoritative guide to practice available for those preparing to join the industry.

Table of Contents:
Part 1: Introduction 1. Cost management 2. Cost estimating and cost planning Part 2: Order of cost estimating 3. Order of cost estimates – an overview 4. Embarking on an order of cost estimate 5. Preparing an order of cost estimate 6. Computing the works cost estimate 7. Order of cost estimate – a worked example 8. Preparation of an initial elemental cost model – using the elemental method of estimating 9. Initial elemental cost model – a worked example Part 3: Cost planning 10. Cost planning – an overview 11. Form, structure and codification of a cost plan 12. Preparation of a cost plan 13. Quantification and the use of the tabulated rules of measurement for cost planning 14. Facilitating works (group element 0) 15. Substructure (group element 1) 16. Superstructure (group element 2) 17. Internal finishes (group element 3) 18. Fittings, furniture and equipment (group element 4) 19. Services (group element 5) 20. Prefabricated buildings and building units (group element 6) 21. Work to existing buildings (group element 7) 22. External works (group element 8) 23. Deriving unit rates for building components, sub-elements and elements 24. Calculation of building works estimate 25. Main contractor’s preliminaries (group element 9) 26. Main contractor’s overheads and profit (group element 10) 27. Calculation of works cost estimate Part 4: Estimating cost targets for non-building works items and risk allowances 28. Project and design team fees (group element 11) 29. Other development and project costs (group element 12) 30. Setting and managing risk allowances (group element 13) 31. Estimating the possible effects of inflation (group element 14) 32. Establishing the cost limit 33. Taxes and incentives Part 5: Writing cost estimates and cost plan reports 34. Reporting of cost estimate and cost plans Part 6: Designing pricing documents using NRM 1 35. Pricing documents Part 7: Analysing bids and collecting cost data 36. Analysing bids and collecting cost data using NRM 1

About the Author :
David P. Benge is a Fellow of the Royal Institution of Chartered Surveyors (RICS) with over 30 years experience as a quantity surveyor and educator. As Head of Quality Management at Gleeds, international management and construction consultants, David focuses on service improvement for all aspects of quantity surveying and project management activities – with a worldwide remit. Through Gleeds, he provides quality consulting services and training on the use and application of the NRM suite of measurement rules. David authored both the first and second editions of NRM1 for the RICS and was co-author and executive technical editor on both NRM2 and NRM3.