Cost Plans & Estimates
Every project must be covered by an estimate of the construction and project cost from the time of the initial appraisal investigation, through the approved plan and construction phases, until all construction is complete. The estimate must cover the entire project, division of the project, or unit as entity. The estimate must be complete to include all costs chargeable through the construction period.
The estimate is the basic document used in the scheduling process and in controlling the cost of project works until the completion of construction.
Subsequent to the completion of a major program feature, but while the project as a whole is still in construction status, a decision may be made to do additional work in connection with a completed feature.
This additional work may involve:
- a change in the feature such as the addition of an enclosure over the outlet works structure,
- a related physical property such as a fence around a completed feature, or
- a supplementary facility such as the construction of a vista house in connection with a completed dam.
Normally, minor additions are shown under “Other Project Cost.” Judgment must be used in estimating and scheduling work of this nature. If the initial construction has been recently completed and the additions to be made are substantial, reopening the identified property and increasing the cost estimate might be desirable.
Before the start of each project, Kelly & O’Callaghan Limited creates a simple to understand, concise document that comprises the above mentioned.
A keen eye is kept on market trends including building cost- and house sales indexes. Further to this, Kelly & O’Callaghan Limited offers an up-to-date readable document with the appropriate back-up.