Benchmark costs for buildings
Benchmark costs for buildings
Keyword Construction costs
The cost significance of various parts of a building can vary depending on the type of building, according to The BCIS Average Group Elements Prices Study published by the Building Cost Information Service.
Joe Martin, BCIS Executive Director, commenting on the study, said:
Understanding these cost drivers can help in controlling the overall cost by identifying the main area for consideration in a value engineering exercise on any particular project and for continuous improvement on a series of projects.
For example, the cost of the superstructure of a factory building can represent over 60 per cent of the total cost while it accounts for only 35 per cent of the cost of hospital buildings. (See Table I and Figures 1 and 2.)
Table I. Group elemental breakdown
Figure 1. Hospital ward blocks. Breakdown of costs
Figure 2. Factories over 2,000m2. Breakdown of costs
The results in the tables act as a benchmark for estimates or actual costs. The study covers over 100 building types in the following sectors:
Industrial.
Commercial.
Health.
Recreation.
Education.
Residential.
