Cost Planning and Control

This unit explores the principles of design economics and the critical role of cost planning throughout the design development of buildings. Students will learn about various cost planning techniques, stages of design development, and methods for adjusting historical building prices to enhance cost control accuracy. Additionally, the unit will cover life cycle costing, including the application of discounting in comparative analyses, highlighting its significance in evaluating environmental sustainability.

Learning Outcomes

On successful completion of this unit, students will be able to:

1. Critically evaluate the processes and procedures of cost planning in building design and construction, and assess various cost planning techniques in relation to cost control systems;
2. Interpret the principles of design economics to forecast building prices and use historical data to develop cost plans in the early stages of building design;
3. Develop cost planning strategies during the design briefing, outline proposal, sketch design, and tender documentation stages to create detailed elemental cost plans;
4. Analyse life cycle cost studies, including the fundamentals of life cycle costing (LCC), LCC methodologies, and the use of discounting in LCC calculations; and
5. Devise comprehensive life cycle cost evaluations of various design options, presenting these assessments to clients and stakeholders effectively.