Budget cost estimation in building services engineering

Pao Yue-kong Library Electronic Theses Database

Budget cost estimation in building services engineering

 

Author: Ma, Kit-wah
Title: Budget cost estimation in building services engineering
Degree: M.Sc.
Year: 1997
Subject: Building -- Estimates
Hong Kong Polytechnic University -- Dissertations
Department: Multi-disciplinary Studies
Pages: vi, 95 leaves : ill. (some col.) ; 30 cm
Language: English
InnoPac Record: http://library.polyu.edu.hk/record=b1398633
URI: http://theses.lib.polyu.edu.hk/handle/200/536
Abstract: Budget cost estimating is required by many different parties involved in the process of construction. For example, the building services installation contractor requires the information for resource planning, budgetary forecasting, funding application and the production of final tender documents. The information may also be one of the prime factors in controlling time and cost during various stages of construction. From the viewpoint of the client an accurate budget cost estimation is necessary in terms of budgetary forecasting, prioritisation of work and control of progress and expenditure. In particular, when the client is a public sector organisation, the economic advantages of a project need to be demonstrated before the commencement of work. However, clients normally have limited resources to carry out detailed budget cost estimations. The utilisation of computer derived estimations (possibly linked to CAD drawing production) may be one way to improve the efficiency and accuracy of the process of producing budget cost estimations. This dissertation therefore reviews the practice of budget cost estimating from the perspective of a large non-governmental organisation. By interviewing the professionals involved in producing the budget cost estimation, and by reviewing the existing in-house procedures within the organisation, the research aims to develop a more efficient way of producing budget cost estimations. The client organisation selected has a well established hand-developed set of procedures. However, the current methodology is time consuming and not well developed for design changes. The computer-assisted budget cost estimating technique derived for the research demonstrates that creating a software model capable of linking the CAD drawings and the bill-of-materials is feasible. Using the principles of "cost significance" and "object-based modelling", the technique is capable of providing a fast and accurate budget cost estimation. The software model has been applied to a fire detection system to verify the work.

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