Benchmarking infrastructure costs

Construction and infrastructure project costs are collected and analysed to provide benchmarks. These are used within an organisation or externally to:

• validate current expenditure
• guide future expenditure and
• assist in identifying efficiency opportunities.

To make comparisons, it is important that costs are analysed in a consistent format. Although individual infrastructure clients have developed standard data analysis systems, there is no accepted standard data collection system within or between sectors. The primary types of structures in different sectors (roads, pipelines, etc.) require different rules of analysis. Work is ongoing within the industry to develop consistent structures for infrastructure. Benchmarking can be defined as the process of collecting and comparing data within or outside an organisation, with a view to measuring and comparing performance.

This section looks at the various drivers for cost analysis and comparison, and the initiatives underway to assess whether greater consistency of analysis is possible. This section is divided into two main parts:

1. data collection: who collects it and why, and
2. the classification of costs.

RICS standards:

• Project monitoring
• Benchmarking in the rural sector

Features:

•  Infrastructure: fitness for the future