Prepare an Outline Proposal Cost Plan Preliminary Estimate Accounting Assignment Help

Assignment Task

Stimulus:
This assessment provides students with the opportunity to demonstrate their understanding, knowledge, and skills in outline proposal cost plan. It allows students to demonstrate on ‘real life’ project and subsequently, students are capable in forecasting the cost for the project and offer relevant recommendation to the client. This assessment is associated to the second assessment; hence, it will also allow students to integrate it into developer’s feasibility study in second assessment.
Task description:
Prepare an Outline Proposal Cost Plan (Preliminary Estimate) for the proposed scheme shown in the DA (Development Application) submission documents as noted below.
Your team are acting as the consultant cost adviser (with a single report) to your developer client who proposes to develop a new building on the Gold Coast.
The outline proposals have been prepared and the details are shown on the documents submitted to Gold Coast Council. These documents should be reviewed carefully for this submission. Many of the major project decisions on the project have been taken with this submission for Development Approval (DA). You have been contracted to prepare an outline proposal cost plan for this project. Further information may have to be obtained outside these documents to make sure you have included all the project costs to completion.
Use the attached drawings/plans to prepare the Outline Proposal Estimate. If you want to read further about the project, you can also refer to other documents available on the Gold Coast Council website using this link: https://new.goldcoast.qld.gov.au/Planning-building/PD-Online Click on Applications from 28 June 2018, then click Development Applications and type in MCU/2020/293 in the application number search. Reviewing these documents will provide you with a ‘real life’ project, which will give you an appreciation of the type, extent and form of information that must be provided to the Council to gain Development Approval (DA) for any scheme such as this one. Use the superficial method of estimating to calculate the cost of the proposal from Rawlinsons, CostWeb, Cordells, or The Building Economist.
Select an appropriate rate per square metre for each of the main Building Areas of the scheme. The rate must take account of the information that you already have or can assume at this early stage. If you have access to a local source for this information, which may be your own office data, a colleague’s office, or one of the published sources noted above or a similar project, then you may use it. Please remember to cite these sources fully in your submission. The preliminary estimate must also include allowances for the following and these must be identified clearly and noted in your report and cost summary:
? Updating of source or base costs to present date
? Allowance for escalation to proposed tender date (assume and note accordingly 6 months to complete design
and tender period)
? Allowance for any increases in costs to completion date (assume and note accordingly 12 months
construction)
? External works and services
? Design contingencies
? Contract contingencies
? Any other costs appropriate for this type of building in this location.
Structure: Prepare a cost plan and brief client report (as a guide approximately 10 pages advised). The iLearn notes for lectures and tutorials may be consulted for a guide to presenting the cost plan. Show your assumptions regarding the specification, calculations of areas, identify source(s) of costs and any other information you have used to complete the cost plan and estimates. The assessment sheet included here may be used as a guide to the sections of your cost plan and report. Your Outline Proposals Cost Plan will be used for assignment 2 as the ‘cost of the project’ to be inserted into the Developer’s Appraisal.
Formatting Guidelines:
The assignment should be in a report format (to include, proper table of contents, headings, writing, calculations, references, and citations). The assessment will be made to the entire formatting and structure and hence, both theoretical and calculations explanation are crucial. The presentation of the report, standardization of font, color, easy to read report, justification of all facts used will provide advantage to the report.
Introduction
Background of report; background of project; project information; and etc.Defining Building cost/m?2;
Define the cost/m?2;; Range of cost/m?2;; Derive/calculate cost/m?2;; Source of reference of cost/m?2;
• For main building • Any balcony? • Any carpark? • Any swimming pool? • Circulation area? Consider all components of the projects
Defining Total Gross Floor Area (GFA)
Derive/calculate GFA for each component of the projects; Total up GFA calculation to derive the Total GFA; Software can be used for GFA calculation (for instance, CostX)
Preliminary, External Works and Services
Allowances to be calculated for preliminary, external works and services
Locality Difference
Adjust the locality difference based on the cost data used; if Brisbane-based cost data is used; adjust it
to Gold Coast-based; index can be use as mentioned in RawlinsonsDesign Contingencies
Allowances; percentage of design contingencies; Source of reference; etc.
Contract Contingencies
Allowances; percentage of contract contingencies; Source of reference; etc.
Price Update
Update rates and prices used, usage of building price index
Summary of Cos
Summary of cost to be provided using appropriate format. Refer to class tutorial for further reference. To include total building costs, allowances, contingencies, escalation of price and etc.Recommendation
Based on the summary of cost, recommendation to the client must be made. For example,
recommendation to include reduction of cost, etc. A revised outline proposal for the recommendation to be provided
 

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