The Project Cost activity captures a very high-level calculation of the Project Budget to meet the requirements including high level Spatial Requirements, taking into consideration any Project Risks.
Resource
The Project Cost activity captures a very high-level calculation of the Project Budget to meet the requirements including high level Spatial Requirements, taking into consideration any Project Risks.
ℹ️ This is in Stage 0: Strategic Definition
📤 Use high level figures to understand the effect of scale on cost of delivery.
⚡ Where possible use a range of costs to help overcome optimism bias. Remember to include development and operational costs.
Costs are always changing and getting good up-to-date information is important. These are not project solution costs, this is delivery cost and high level implementation cost.
The Project Cost activity captures a very high-level calculation of the Project Budget to meet the requirements including high level Spatial Requirements, taking into consideration any Project Risks.
The estimated build cost might only be stated in terms of estimated cost per square metre or by reference to the estimated cost of a functional type (PV, heat network.) and taking account of feedback from previous similar projects.
The estimated build cost is used to form the initial Project Budget figure as part of the Business Case, with the addition of professional fees and land acquisition costs. It also informs the funding and investment options activity.
Skills and Capability
| Role | Responsibility | Team |
|---|---|---|
| Cost Consultant | Understands the potential costs associated with delivering a project. This could be a quantity surveyor. | Project Team |
| Technical Expertise | Understands the high level costs associated with the components being considered in the options. | Project Team |
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