Document downloads - Managing target cost contracts
Available downloads
-
Cost reporting
Published: March 2015
Effective from: March 2015
This 1st edition guidance note sets out the principles of cost reporting from the perspective of the quantity surveyor to the client during construction.
This guidance note explains the purpose of cost reporting, the factors affecting outturn cost and explores the different formats and types of cost report.
This guidance note covers:
- the purpose of cost reporting;
- cost reporting models;
- report formats;
- establishing the budget;
- treatment of variable costs;
- strategic importance; and
- reporting of loss and expense.
This is part of the RICS QS and Construction Standards. -
Cost prediction
Published November 2020
Effective from 1 July 2021
This 1st edition professional statement provides an overview of global best practice in cost prediction and the implementation of International Construction Measurement Standards (ICMS) for cost management professionals.
Different markets and construction sectors undertake cost prediction in different ways. Eliciting the key principles from these various approaches, the document sets out mandatory requirements which RICS professionals and RICS-regulated firms must follow when producing a cost prediction report for a client or senior management.