Elemental cost planning
is a system of Cost planning
and Cost control
, typically for buildings, which enables the cost of a scheme to be monitored during design development.
It should :-
- Ensure that the tender amount is close to the first estimate, or that any likely difference between the two is anticipated and is acceptable.
- Ensure that the money available for the projects is allocated consciously and economically to the various components and finishes.
- Always involves the measurement and pricing of approximate quantities at some stage of the process.
- Aim to achieve good value at the desired level of expenditure.
Elemental cost planning is often referred to as 'designing to a cost' or 'target cost planning' since a cost limit is fixed for the scheme and the architect must then prepare a design not to exceed this cost.
- Cost planning of buildings - Douglas J Ferry (and others)
- Cost studies of buildings 4th edn- Alan Ashworth