Residential Building Preliminary Cost Estimate Assignment

Assignment Task

Overview

This assessment requires the student to prepare a preliminary estimate for the owner of a proposed residential building to be constructed in Sydney’s CBD. The land is around 235 m ² . There are two schemes being considered (Scheme A and Scheme B; drawing of Scheme A can be found from our Assessment 2 Folder, and all cost-related parameters of Scheme B are given directly). You have been given the responsibility to make sure that the design team and the client are aware of the cost of the two alternatives. Upon completion of this assignment, students are expected to be able to:

1. Provide an Indicative Cost Plan (Elemental Cost Plan) for Scheme A following the template and requirements of assessment 2. The indicative cost plan should include at least:

• Construction costs (at stated base date, May 2023)
• Estimated inflation to probable tender date of October 2023
• Estimated increased costs payable to contractors during the construction period (2023-2025)
• Professional fees
• Any omissions or exclusions from the estimate.

2. Compare the two options based on your calculation for Scheme A and information given for Scheme B to make a recommendation in line with cost merits. Reasons and rationale for the best scheme need to be detailed.

Students are encouraged to apply their own practical knowledge and experience, combining with either Rawlinson’s Australian Construction Handbook 2023, or Cordell Estimator Platinum, to complete the task. Note that only one source of price book/guide is allowed to use for cost estimate, and it should be explicitly stated in the assessment. Students should also apply their commercial and economical knowledge combining with the current market situation and the future market prediction to make the recommendation.

FAQs

1. Where can students find the relevant cost reference for carrying out the estimate?

• Students are encouraged to find the relevant elemental rates from Rawlinson’s Australian Construction Handbook 2023, or Cordell Estimator Platinum, as your reference.
• Only one source is allowed to use. No mixed use of cost data from different references is recognized unless no relevant data can be found in one source.

2. Students are required to make an assumption list regarding the project following your calculation in your submission, if applicable. In the industry, professionals do make a lot of assumptions at this stage. There is no right or wrong answers. As long as you can justify the assumptions.

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