Cost analysis and benchmarking - UK

This guidance note summarises the purpose and process of both cost analysis and construction project benchmarking.

It is based on current practice within the UK and covers the general principles applying to each operation. It does not seek to cover every approach to cost analysis or benchmarking but looks at the subject areas from a practical aspect.

In addition, while the processes of cost analysis and benchmarking are applicable to the whole life costs associated with the construction and operation of a building, this guidance note considers capital cost only. The principles covered may, however, also be applied to costs in use.

This is part of the RICS QS and construction standards (the 'Black Book').

Please be aware that this guidance note contains some material which is in the process of being updated for revisions to the CDM Regulations, RIBA Plan of Work, and updates to the JCT, NEC and FIDIC suites. Members are made aware of these impending revisions in order that they first check the most up to date position before electing to act in accordance with this guidance document.