BCIS Standard form of cost analysis
|This isurv section is based on BCIS Elemental Standard Form of Cost Analysis (4th (NRM) edition) published in 2012.|
Accurate cost analysis is essential as new procurement practices are making a targeted cost plan central to the entire construction process. Cost analysis provides data to allow comparisons between the costs of various building functions with equivalent functions in other projects so that information from existing projects can inform the budgeting and benchmarking of future projects.
The Standard Form of Cost Analysis (SFCA) has been an essential aid to quantity surveyors for over 50 years. SFCA Elements have been incorporated into most of the techniques adopted by the industry during that period. For example, life cycle costing, performance specification and value management.
The principles, instructions and definitions of the 4th edition of BCIS elemental standard form of cost analysis clarify the definitions and rules of previous editions in light of modern building design and construction techniques and take into account some practical issues arising from the RICS new rules of measurement (NRM1) and (NRM2).