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Author(s): Roger Flanagan, Carol Jewell
Size: 12 Mb
The book titled "New Code of Estimating Practice" is a comprehensive guide that focuses on the practice of estimating in the construction industry in the United Kingdom. It provides detailed information, guidelines, and best practices for professionals involved in estimating the costs of construction projects.
The book covers a wide range of topics related to construction estimating, including but not limited to cost estimation techniques, pricing of materials and labor, overheads and profit considerations, risk assessment, and tendering processes.
Key areas covered in the book include measurement methods, cost databases, cost analysis, value engineering, cost control, and contract documentation related to estimating.
The benefits of the "New Code of Estimating Practice Edition 2018" book are as follows:
Accurate Cost Estimation: The book provides guidance on accurate cost estimation for construction projects. It covers various techniques and methods for estimating costs, helping professionals develop more reliable and realistic estimates for projects.
Improved Budgeting: By following the guidelines in the book, professionals can improve budgeting practices for construction projects. Accurate cost estimates support effective financial planning and resource allocation, reducing the risk of cost overruns during project execution.
Tendering and Bidding: The book offers insights into the tendering and bidding processes in the construction industry. It helps professionals prepare competitive and well-informed bids, enhancing their chances of winning contracts and securing projects.
Risk Assessment and Mitigation: Estimating involves considering potential risks and uncertainties that could affect project costs. The book provides guidance on risk assessment and mitigation strategies, enabling professionals to identify and manage risks effectively.
Value Engineering: The book covers value engineering principles, which focus on optimizing project costs while maintaining or improving the value of deliverables. By incorporating value engineering practices, professionals can identify cost-saving opportunities and enhance project efficiency.
Standardization and Consistency: The "New Code of Estimating Practice" provides standardized guidelines for construction estimating. This promotes consistency in estimating practices across the industry and supports better communication and understanding between stakeholders.
Professional Development: The book serves as a valuable resource for professionals seeking to enhance their estimating skills in the construction industry. It provides up-to-date information on industry best practices, cost analysis techniques, and contract documentation. This supports continuous professional development and enables professionals to excel in their roles as estimators.
In summary, the "New Code of Estimating Practice" is a comprehensive guide that provides insights into construction estimating practices. It promotes accurate cost estimation, improved budgeting, effective tendering, risk assessment and mitigation, value engineering, standardization and consistency, and professional development. It is an essential reference for professionals involved in estimating costs for construction projects, helping them optimize project budgets and deliver successful projects.