The external Cost Manager shall further develop the cost estimates in line with the design brief. They shall set cost limits based on benchmarking for each design option and produce a feasibility estimate which includes but is not limited to:
- Introduction
- Executive summary
- Financial summary
- Key assumptions and exclusions
- Benchmarking comparison
- Value engineering opportunities
- Initial life cycle opportunities
- Key risks
- Procurement strategy
- Programme
- Next steps
- Appendices:
a. Elemental cost plan (including insurances and confirmed level of VAT)
b. Schedule of areas
c. Basis of estimate
Initial estimate of costs (Stage 0)
Responsibility
Cost Manager
Output
Feasibility estimate