7/3/2022: Cost geometry and most significant cost parameters moved from Pre-Contract Cost Planning and Control.
17/2/2021: Term contract edition updated.
17/2/2020: Tender price indices links updated.
20/12/2014: Moved from wiki.
Consultants' source of data
Tenderers when tendering will get their cost data by making enquiries with their prospective sub-contractors and suppliers.
Consultants may make enquiries with prospective contractors, sub-contractors and suppliers for cost data but may only be able to obtain some indicative budgetary prices which may differ from that obtained under circumstances of real business opportunity and competitive tendering.
To evaluate whether tender prices received are reasonable market rates, other cost data not received for the same tender would need to be used to compare.
Consultants would therefore rely more on past cost data for cost estimating and for evaluation of tenders.
Consultants would know the rates and prices in tenders received but would not normally know the costs, profit and overheads in the tenders. It does not really matter when the Consultants are interested more on the all-in rates. The details of costs, profit and overheads are only essential when handling claims.
When estimating composite rates covering more than one work item, the quantity ratios of the constituent work items would be important.
Final Account prices
New inquiries (contractors, sub-contractors, suppliers)
Architectural Services Department Schedule of Rates for Term Contracts for Building Works 2019 Edition: