New Code of Estimating Practice

The essential, authoritative guide to providing accurate, systematic, and reliable estimating for construction projects newly revised

Pricing and bidding for construction work is at the heart of every construction business, and in the minds of construction consultants′ poor bids lead to poor performance and nobody wins. New Code of Estimating Practice examines the processes of estimating and pricing, providing best practice guidelines for those involved in procuring and pricing construction works, both in the public and private sectors. It embodies principles that are applicable to any project regardless of size or complexity.

This authoritative guide has been completely rewritten to include much more contextual and educational material as well as the code of practice. It covers changes in estimating practice; the bidding process; the fundamentals in formulating a bid; the pre–qualification process; procurement options; contractual arrangements and legal issues; preliminaries; temporary works; cost estimating techniques; risk management; logistics; resource and production planning; computer–aided estimating; information and time planning; resource planning and pricing; preparation of an estimator′s report; bid assembly and adjudication; pre–production planning and processes; and site production.

Established standard for the construction industry, providing the only code of practice on construction estimating Prepared under the auspices of the Chartered Institute of Building and endorsed by a range of other professional bodies Completely rewritten since the 7th edition, to include much more contextual and educational material, as well as the core code of practice

New Code of Estimating Practice is an important book for construction contractors, specialist contractors, quantity surveyors/cost consultants, and for students of construction and quantity surveying.

Foreword xi

Glossary xiii

Code of estimating and tendering practice principles and procedures xxv

Section One Principles the theory and background 1

1 Introduction 3

2 The Fundamentals 7

3 Changes driving estimating practice 13

4 The bid process 17

5 Health and safety 25

6 The pre–qualification process 31

7 Procurement, selection, contractual arrangements and legal issues 37

8 Preliminaries 51

9 Temporary Works 81

10 Cost–estimating techniques 103

11 Private finance initiative/public private partnerships/build, operate and transfer, and whole–life costing 113

12 Risk management 115

13 Logistics 121

14 Resource and production planning 129

15 Computer–aided cost estimating 135

16 BIM and the estimating process 137

Section Two Processes the practice 139

1 Consider and assess 141

2 Information and time planning 153

3 Contract terms and conditions 171

4 Resource planning and pricing 175

5 Prepare estimator s report 211

6 Examine and consider 215

7 Bid assembly and adjudication 219

8 Pre–production planning and processes 225

9 Site production 231

Bibliography and References 235

Index 241

The Chartered Institute of Building is at the heart of a management career in construction. It is the world′s largest and most influential professional body for construction management and leadership, with a Royal Charter to promote the science and practice of building and construction for the benefit of society. With over 48,000 members worldwide, the CIOB is the international voice of the building professional.