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NRM3 Order of cost estimating, cost planning for building maintenance

NRM3 Order of cost estimating and cost planning for building maintenance works, ISBN/EAN: 1842197169 / 9781783210244, Author Andy Green , Publisher RICS, Item Code 19866, Which Building Contract bookshop
NRM 3 - Order of cost estimating and cost planning for building maintenance works


 
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Author: Andy Green
Publisher: RICS
ISBN/EAN: 1842197169 / 9781783210244
Item Code: 19866
Format: Hardback
Pagination: 552 pages
Published: 30/03/ 2014
NRM 3 - Order of cost estimating and cost planning for building maintenance works
Provides fundamental guidance on the quantification of maintenance works for the purpose of preparing order of cost estimates and formal cost plans (pre construction) and detailed cost plans (post construction) and during the in use phases of the building life cycle.
The RICS new rules of measurement (NRM) is a suite of documents issued by the RICS Quantity Surveying and Construction Professional Group
.
The rules have been written to provide a standard set of measurement rules that are understandable by all those involved in a construction projects and maintenance programmes of works.
This volume NRM 3: Order of cost estimating and cost planning for maintenance works, provides fundamental guidance on the quantification of maintenance works for the purpose of preparing order of cost estimates and formal cost plans (pre construction) and detailed cost plans (post construction) and during the in use phases of the building life cycle. The guidance provided by the rules also aids the procurement and cost control of maintenance works.
NRM 3 follows the same structure and premise as the NRM 1: Order of cost estimating and cost planning for capital building works. Consequently, NRM 3 also gives direction on how to quantify other items associated with building maintenance works, which are not reflected in the measurable maintenance work items - i.e. maintenance contractor’s management and administration charges, overheads and profit, consultants’ fees, employer definable other maintenance-related costs; and risks allowances in connection with maintenance works.
Unlike capital building projects, maintenance works are required to be carried out from the day a building or asset is put to use until the end of its life. Accordingly, while the costs of a capital building works project are usually incurred by the building owner/developer over a relatively short-term, costs in connection with maintenance works are incurred throughout the life of the building – over the short, medium and long-term.
Therefore NRM 3 also provides guidance on the measurement and calculation of the time value of money (NPV and payback methods), as well as other considerations such as taxation and other incentives.
Together, NRM 1 and NRM 3 present the basis of good life cycle cost management of capital building and maintenance works enabling more effective and accurate cost advice to be given to clients and project team members, as well as facilitating better cost control. They can be used jointly to develop and manage life cycle cost plans (LCCPs) for construction, maintenance, renewal works, to inform investment appraisals, and selecting the best value option. NRM 3 also provides a digital cost data set and classification for the economic analysis of maintenance works in BIM solutions.
In addition, the rules can be used as a basis for capturing and analysing historical cost data in the form required for future order of cost estimates and elemental cost plans, thereby completing the ‘cost management cycle’ and bridging the capital and revenue divide.
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