Prime Cost
The Royal Institute of Chartered Surveyors (RICS) has finally launched a new definition of “Prime Cost of Day Work Carried Out Under A Building Contract”.
After 30 years of the existing regulation and launching in September 2007, it clearly explains what must be adhered to. At Construction Estimating Support we not only endorse any new regulation but believe in providing clarity and full details to the customer.
Being aware and fully appraised is an essential element to managing and controlling budgets, labour, and materials.
Construction Estimating Support will obtain trade material from only those in the industry such as builders merchants and building suppliers, ensuring the maximum cost efficiency is achieved. Net materials are calculated using discounts offered on a specific project, as this may vary from each development, again guaranteeing individual cost pricing as part of the construction estimating service.
A thorough investigation of the current market on the Unit Labour Times will be carried out which not only includes UK Estimating Support’s grounded knowledge within the industry, but is also based on SPONS, a recognised industry standard, thereby giving the customer ‘peace of mind’ knowing that the best possible pricing has been sourced.
Unit Labour is benchmarked at £20.00 (twenty pounds) per hour but there is flexibility built into this rate and can be easily adjusted for tender submission, following the full estimate. This rate is based on the final Labour Rate, which is calculated by multiplying the Unit Labour Time by the Unit Labour Cost, which is done by using our software, designed to give the customer a completely flexible and interactive tool, as part of the construction estimating service.
The Prime Cost is summerised as the estimated cost of the overall project which does not include the overheads and profit and within this costing, elements such as labour, net material, sub-contractors and preliminaries making it easy to strip out unessential items that bear no significant influence. All in all, the construction estimating service enables the project to be managed effectively and efficiently, both in terms of labour and materials, giving you the customer, total control and flexibility.