Our Value Engineering And Cost Control Process
At the start of the turnkey process we estimate an indicative build cost which is expressed as a cost per square metre of gross internal floor area (GIFA). As the project develops this evolves to become a fixed price (that falls within the agreed budget) for a specific design and relates to a comprehensive set of working drawings and detailed specification.
To achieve this requires cost planning and diligent value engineering.
This is how the budget and cost plan evolve for a scheme:
1. Understand what budget is available and what needs to be included in it
2. Work out how much space needs to be built to accommodate the brief
3. Assess key cost drivers e.g. size, general level of specification, design complexities, site conditions and planning requirements to establish likely cost per square metre
4. Check cost per m2 (3) and space needed (2) against the project budget
5. Develop the design within the parameters of 2 and 3
6. Planning application submission followed by planning approval
7. Take a detailed schedule of finishes and specification
8. Develop detailed cost plan and working drawings
9. Reach and agree a fixed price for inclusion in the construction contract
In addition to the stages above we continually advise on the budget implications of design and specification decisions you need to make throughout the project. Our cost consultants also constantly value engineer by working closely with the design team to find the most efficient design and construction solutions.
Designing a house that meets your aspirations, is within your budget and represents value for money, is a process of helping you to develop your understanding, so you can make well informed choices.
You have a significant amount of control over how much your house will cost. Our aim is to ensure the decisions and choices you need to make can be done so with confidence, and use our expertise to ensure the best value solutions are available.
The process of budgeting, cost planning and value based engineering is not a single activity but should be carried out throughout the design and construction of your new home. Architects will often suggest the employment of a quantity surveyor (QS) if you raise the issue of cost – however at best a QS will only be able to do an arm’s length snapshot of estimated cost at any one point in time.
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HOMEBUILDING & RENOVATING MAGAZINE
The one thing that has enabled us to progress is I believe finding a company that is prepared to partner with us from the very beginning and take us through planning, design/costing, tendering and build through to completion (or to any stage along the way). The Complete Oak Home offers us a way of achieving our dream by undertaking those tasks for us.
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