Using SPONS, BCIS, And Historic Cost Data In Construction Cost Estimating: How Quantity Surveyors Make Accurate Projections
As Quantity Surveyors, it’s essential to have accurate cost estimates when working on construction projects. One of the most effective ways to achieve this is by using a combination of three key tools: Standard Price Other Non-Specific (SPONS), Building Cost Information Service (BCIS), and historic cost data.
Quantity surveyors and the key tool SPONS used by them
SPONS is a cost estimating tool that is used by Quantity Surveyors to estimate the cost of non-specific items in a construction project. These items include things like general site clearance, site preparation, and other non-specific items that are not directly related to the construction of the building itself. By using SPONS, Quantity Surveyors can make more accurate cost estimates for these items, which can help to reduce the risk of cost overruns.
Building Cost Information system as another tool
BCIS, on the other hand, is a comprehensive cost information service that is used by Quantity Surveyors to estimate the cost of specific items in a construction project. This includes things like the cost of materials, labour, and plant and equipment. By using BCIS, Quantity Surveying services can make more accurate cost estimates for specific items, which can help to reduce the risk of cost overruns.
Historic cost data for better cost estimation
Finally, Quantity Surveyors also use historic cost data to make accurate cost estimates. This includes data on the costs of similar projects that have been completed in the past. By analyzing this data, Quantity Surveyors can identify patterns and trends that can help them make more accurate cost estimates for current and future projects.
Making cost estimation more effective with right tools
By using a combination of SPONS, BCIS, and historic cost data, Quantity Surveyors can make more accurate cost estimates for construction projects. This helps to reduce the risk of cost overruns and ensure that the project is completed on time and within budget. Additionally, using these tools can also help Quantity Surveyors to identify potential cost savings and make more informed decisions about how to manage the project.
Conclusion
In conclusion, Quantity Surveyors use a combination of tools to make accurate cost estimates for construction projects, such as SPONS, BCIS and historic cost data. These tools provide them with detailed information about the cost of specific items and non-specific items, as well as data on the costs of similar projects that have been completed in the past. By using these tools, Quantity Surveyors can make more accurate cost estimates, reduce the risk of cost overruns, and ensure that the project is completed on time and within budget.
