Managing your cash flow and having a clear understanding of the construction costs for your extension or renovation project is critical to the successful completion of your project. There are a number of factors that can place added stress on your project and even bring things to a halt. Contractor availability, interest rate increases, poor weather, holding costs and material price rises are just some of the most common issues with construction projects, and it is important that you can manage them as they arise.
Section 94 can assist you by maintaining an accurate construction cost report for every stage of your project. Our service caters to the needs of architects, owner builders, and builders in Sydney and Melbourne.
The Importance of
Construction Cost Reports
The construction industry is highly demanding and competitive. Engaging a quantity surveyor will help to ensure that your project progresses smoothly whilst minimising the risk of a budget blowout. A cost report should be prepared before the project begins and, if necessary, can be updated on a weekly or monthly basis. This helps you to stay informed, manage cash flow and keep your project on track for successful completion. It is not uncommon for construction projects to exceed budgets and expected time frames, but this problem can be avoided by engaging the services of a quantity surveyor at your project’s inception.
Inspection of your development plans
Consulting the Australian Cost Management Manuals provided by the Australian Institute of Quantity Surveyors (AIQS) to calculate your development costs
Comparing data to previous benchmarked projects
Calculating total development cost including GST
Measuring gross floor areas following measurement guidelines described in the AIQS Cost Management Manual
Construction cost report
We use this information to establish a detailed cost projection based on the size of your development. The report will include a total estimated cost, as well as an estimated rate per m² and the gross floor area. You will gain a much clearer picture of where your money is being spent, and you will be able to manage finances much more efficiently throughout the project’s course.
Main Elemental Costs
The functional performance of building components, considering internal and external fabric, fittings, internal services, site works, external services, special provisions, superstructure, preliminaries, substructure and internal finishes.
Sub Elemental Costs
The individual building components used in the creation of main components, such as windows and doors, walls, columns, air conditioning, fire protection, electrics, communications, landscaping, water and gas services/supply, plumbing, columns, floors and roofs.