MTU Library Catalogue

Syndetics cover image
Image from Syndetics

Construction cost management : learning from case studies / Keith Potts and Nii Ankrah.

By: Potts, Keith F [author].
Contributor(s): Ankrah, Nii [author].
Material type: materialTypeLabelBookPublisher: Abingdon, Oxon ; New York : Routledge/ Taylor & Francis Group, 2013Copyright date: ©2013Edition: Second edition.Description: xix, 367 pages ; illustrations : 26 cm.Content type: text Media type: unmediated Carrier type: volumeISBN: 9780415629133 (paperback); 9780415629126 (hardback).Subject(s): Construction industry -- Cost control | Construction industry -- Costs | Technology | Budgeting & financial management | Surveying, quantity surveying | Building construction & materials | Civil engineering, surveying & buildingDDC classification: 624.0681 | 624.0681 POT
Contents:
Part I: Introduction -- Part II: Management of the pre-contract stage -- Part III: Key tools and techniques -- Part IV: Procurement strategies -- Part V: Management of the post-contract stage -- Part VI: Contracts and case studies.
Summary: The second edition examines key issues in construction cost management across the building and civil engineering sectors, both in the UK and overseas. Best practice from pre-contract to post-contract phases of the project life-cycle are illustrated using major projects such as Heathrow Terminal 5, Crossrail and the London 2012 Olympics as case studies.
Holdings
Item type Current library Call number Status Notes Barcode
General lending MTU Bishopstown Library Lending 624.0681 (Browse shelf(Opens below)) Available Core Reading - BULD7008 00162799
General lending MTU Kerry North Campus Library First Floor Main 624.0681 POT (Browse shelf(Opens below)) Available 38888000879167
Total holds: 0

Enhanced descriptions from Syndetics:

In this updated and expanded second edition, Keith Potts and Nii Ankrah examine key issues in construction cost management across the building and civil engineering sectors, both in the UK and overseas. Best practice from pre-contract to post-contract phases of the project life-cycle are illustrated using major projects such as Heathrow Terminal 5, Crossrail and the London 2012 Olympics as case studies.

More worked examples, legal cases, case studies and current research have been introduced to cover every aspect of the cost manager's role. Whole-life costing, value management, and risk management are also addressed, and self-test questions at the end of each chapter support independent learning.

This comprehensive book is essential reading for students on surveying and construction management programmes, as well as built environment practitioners with cost or project management responsibilities.

"First edition published 2008 by Taylor and Francis"--Title page verso.

Includes bibliographical references and index.

Part I: Introduction -- Part II: Management of the pre-contract stage -- Part III: Key tools and techniques -- Part IV: Procurement strategies -- Part V: Management of the post-contract stage -- Part VI: Contracts and case studies.

The second edition examines key issues in construction cost management across the building and civil engineering sectors, both in the UK and overseas. Best practice from pre-contract to post-contract phases of the project life-cycle are illustrated using major projects such as Heathrow Terminal 5, Crossrail and the London 2012 Olympics as case studies.

Table of contents provided by Syndetics

  • List of figures (p. xiii)
  • List of tables (p. xv)
  • Preface (p. xvi)
  • Abbreviations (p. xvii)
  • Part I Introduction
  • 1 Introduction and overview (p. 1)
  • 1.1 Setting the scene (p. 1)
  • 1.2 Construction overview (p. 1)
  • 1.3 Cost management in construction (p. 4)
  • 1.4 Learning from case studies (p. 5)
  • 1.5 Overview of chapters (p. 7)
  • 1.6 Conclusions (p. 9)
  • 1.7 Questions (p. 10)
  • 1.8 Refsrences/further reading (p. 11)
  • 2 Reports and recommendations (p. 13)
  • 2.1 Introduction (p. 13)
  • 2.2 Post-war reports (p. 14)
  • 2.3 The Latham Report, Constructing the Team (1994) (p. 15)
  • 2.4 Levene efficiency scrutiny (1995) (p. 18)
  • 2.5 Construction Procurement Guidance, HM Treasury (1996) (p. 18)
  • 2.6 Construction Industry Board (CIB) Working Groups (1996/97) (p. 19)
  • 2.7 The Egan Report Rethinking Construction (1998) (p. 20)
  • 2.8 Modernising Construction, National Audit Office, (2001) (p. 23)
  • 2.9 The Second Egan Report, Accelerating Change (2002) (p. 24)
  • 2.10 Achieving Excellence in Construction Procurement Guides, Office of Government Commerce (2003) (p. 25)
  • 2.11 Improving Public Services through Better Construction. National Audit Office (2005) (p. 26)
  • 2.12 'Never Waste a Good Crisis; Constructing Excellence (2009) (p. 27)
  • 2.13 'Government Construction Strategy', The Cabinet Office (2011) (p. 27)
  • 2.14 'Infrastructure in the New Era', Constructing Excellence and Pinsent Masons LLP (2011) (p. 29)
  • 2.15 Reflections (p. 29)
  • 2.16 Questions (p. 31)
  • 2.17 References/further reading (p. 32)
  • Part II Management of the pre-contract stage
  • 3 Selecting the consultants and contractors (p. 34)
  • 3.1 Introduction (p. 34)
  • 3.2 Selecting consultants (p. 35)
  • 3.3 Selecting Contractors by Value (p. 39)
  • 3.4 CIRIA Guide Selecting contractors by value (p. 44)
  • 3.5 Single-stage tendering (p. 46)
  • 3.6 Two-stage tendering (p. 46)
  • 3.7 FIDIC tendering procedures (p. 47)
  • 3.8 Conclusions (p. 50)
  • 3.9 Questions (p. 50)
  • 3.10 References/further reading (p. 51)
  • 4 Pre-contract cost management (p. 52)
  • 4.1 Introduction (p. 52)
  • 4.2 Cost estimating on engineering, manufacturing and process industry projects (p. 53)
  • 4.3 Cost estimating on civil engineering projects (p. 55)
  • 4.4 Cost estimating on building projects (p. 58)
  • 4.5 General comments (p. 65)
  • 4.6 Action after receipt of tenders (p. 65)
  • 4.7 Conclusions (p. 66)
  • 4.8 Questions (p. 66)
  • 4.9 References/further reading (p. 67)
  • 5 Cost management on PFI projects (p. 68)
  • 5.1 Introduction (p. 68)
  • 5.2 Structure of BOT projects (p. 69)
  • 5.3 Case study: Nottingham Express Transit (NET) light rail (p. 69)
  • 5.4 Factors leading to success on BOT projects (p. 71)
  • 5.5 Risks and securities (p. 72)
  • 5.6 Case study: Sydney SuperDorne, Australia (p. 73)
  • 5.7 The Private Finance Initiative (p. 74)
  • 5.8 Alternative PPP models - local asset-backed vehicles (LABVs) (p. 79)
  • 5.9 The role of the cost consultant in PFI/PPP projects (p. 80)
  • 5.10 Case study: Stoke-on-Trent schools, UK (p. 82)
  • 5.11 Conclusions (p. 83)
  • 5.12 Questions (p. 84)
  • 5.13 References/further reading (p. 85)
  • 6 Contractor's estimating and tendering (p. 87)
  • 6.1 Introduction (p. 87)
  • 6.2 Stage 1 - decision to tender (p. 88)
  • 6.3 Stage 2 - determining the basis of the tender (p. 90)
  • 6.4 Stage 3 - preparation of cost estimate (p. 92)
  • 6.5 Stage 4 - commercial appreciation (p. 98)
  • 6.6 Stage 5 - conversion of estimate to tender (p. 100)
  • 6.7 Stage 6 - submission of tender (p. 101)
  • 6.8 Questions (p. 101)
  • 6.9 References/further reading (p. 102)
  • Part III Key tools and techniques
  • 7 Value management (p. 103)
  • 7.1 Introduction (p. 103)
  • 7.2 What is value management? (p. 103)
  • 7.3 Value planning (VP) (p. 105)
  • 7.4 Metropolis United's new football stadium (p. 106)
  • 7.5 Value engineering (VE) (p. 109)
  • 7.6 Value reviewing (VR) (p. 110)
  • 7.7 Case studies (p. 111)
  • 7.8 Conclusions (p. 114)
  • 7.9 Questions (p. 115)
  • 7.10 References/further reading (p. 115)
  • 8 Risk management (p. 117)
  • 8.1 introduction (p. 117)
  • 8.2 Risk identification (p. 118)
  • 8.3 Risk analysis techniques (p. 121)
  • 8.4 Risk register (p. 126)
  • 8.5 Risk response (p. 129)
  • 8.6 Strategic risk management (p. 131)
  • 8.7 Case studies (p. 132)
  • 8.8 Conclusions (p. 134)
  • 8.9 Questions (p. 135)
  • 8.10 References/further reading (p. 135)
  • 9 Whole-life costing (p. 137)
  • 9.1 Introduction (p. 137)
  • 9.2 Understanding the relevance of WLC (p. 138)
  • 9.3 The basic steps in WLC (p. 138)
  • 9.4 Money, time and investment (p. 140)
  • 9.5 Calculations (p. 142)
  • 9.6 Problems with assessing whole-life costs (p. 144)
  • 9.7 Whole-life value (p. 145)
  • 9.8 Conclusions (p. 147)
  • 9.9 Questions (p. 147)
  • 9.10 References/further reading (p. 148)
  • Part IV Procurement strategies
  • 10 Organizational methods (Part 1) (p. 150)
  • 10.1 Introduction (p. 150)
  • 10.2 Traditional method (p. 153)
  • 10.3 Design and build (p. 156)
  • 10.4 Guaranteed maximum price (p. 160)
  • 10.5 Turnkey (p. 162)
  • 10.6 Joint ventures (p. 164)
  • 10.7 Consortium (p. 166)
  • 10.8 Partnering (p. 166)
  • 10.9 Alliancing (p. 169)
  • 10.10 Conclusion (p. 174)
  • 10.11 Questions (p. 174)
  • 10.12 References/further reading (p. 175)
  • 11 Organizational methods (Part 2) (p. 177)
  • 11.1 Management methods (p. 177)
  • 11.2 Management contracting (p. 178)
  • 11.3 Construction management (p. 180)
  • 11.4 Management contracting or construction management? (p. 184)
  • 11.5 Reflections on the Scottish Parliament building (p. 185)
  • 11.6 Design and manage (p. 186)
  • 11.7 EC procurement rules (p. 186)
  • 11.8 Achieving Excellence in Construction (p. 189)
  • 11.9 NHS ProCure 21 (p. 190)
  • 11.10 Highways Agency - overlying principles for future procurement (p. 190)
  • 11.11 2012 London Olympics (p. 193)
  • 11.12 Selecting the procurement route (p. 195)
  • 11.13 Achieving Excellence in Construction methodology (p. 195)
  • 11.14 Which form of contract to choose? (p. 197)
  • 11.15 Conclusions (p. 198)
  • 11.16 Questions (p. 198)
  • 11.17 References/further reading (p. 199)
  • 12 Payment systems and contract administration (p. 201)
  • 12.1 Introduction (p. 201)
  • 12.2 Price-based - lump sum plan and specification (p. 203)
  • 12.3 Priced-based - bills of quantities (p. 204)
  • 12.4 Standard schedule of prices (p. 208)
  • 12.5 Operational bills (p. 209)
  • 12.6 Price-based - method-related bills (p. 210)
  • 12.7 Price-based - BofQ with milestone payments (p. 211)
  • 12.8 Price-based - activity schedules (p. 213)
  • 12.9 Cost-based - cost reimbursable contracts (p. 215)
  • 12.10 Cost-based - target cost contracts (p. 217)
  • 12.11 Conclusions (p. 224)
  • 12.12 Questions (p. 225)
  • 12.13 References/further reading (p. 225)
  • Part V Management of the post-contract stage
  • 13 Contractors' cost control and monitoring procedures (p. 228)
  • 13.1 Introduction (p. 228)
  • 13.2 The external valuation (p. 229)
  • 13.3 Budget forecast update report (p. 232)
  • 13.4 Developing a cost control system (p. 234)
  • 13.5 Method 1: Cost value Reconciliation (CVR) (p. 235)
  • 13.6 Method 2: contract variance - unit costing (p. 239)
  • 13.7 Method 3: earned value analysis (p. 242)
  • 13.8 Relevant observations on use of cost control systems (p. 244)
  • 13.9 Conclusions (p. 245)
  • 13.10 Questions (p. 246)
  • 13.11 References/further reading (p. 246)
  • 14 Change management - valuing variations (p. 248)
  • 14.1 Introduction (p. 248)
  • 14.2 Managing the change control process (p. 249)
  • 14.3 Contractual requirements - ICE Conditions of Contract, 7th edition, January 2003 (p. 250)
  • 14.4 Contractual requirements - JCT Standard Building Contract with Quantities (SBC/Q 2011) (p. 251)
  • 14.5 Contractual requirements - The NEC Engineering and Construction Contract, 3rd edition (p. 252)
  • 14.6 Fixing the rate (traditional contracts) (p. 253)
  • 14.7 Quantum meruit claims (p. 258)
  • 14.8 Some other relevant legal cases (reported in date order) (p. 260)
  • 14.9 Conclusions (p. 265)
  • 14.10 Questions (p. 265)
  • 14.11 References/further reading (p. 267)
  • 15 Claims management (p. 269)
  • 15.1 introduction (p. 269)
  • 15.2 Terms in contract conditions (p. 270)
  • 15.3 Legal requirements of claims submission (p. 272)
  • 15.4 Contractor's programme (p. 273)
  • 15.5 Concurrent delays (p. 274)
  • 15.6 Proving the delay (p. 276)
  • 15.7 Disruption (p. 277)
  • 15.8 Progress records (p. 278)
  • 15.9 Claims presentation (p. 278)
  • 15.10 Quantifying the claim (p. 279)
  • 15.11 Global claims (p. 283)
  • 15.12 Conclusions (p. 284)
  • 15.13 Some legal cases (p. 284)
  • 15.14 Questions (p. 286)
  • 15.15 References/further reading (p. 287)
  • Part VI Contracts and case studies
  • 16 The NEC Engineering and Construction Contract (p. 289)
  • 16.1 Introduction (p. 289)
  • 16.2 The NEC family of contracts (p. 290)
  • 16.3 Objectives of the NEC (p. 291)
  • 16.4 Design principles (p. 293)
  • 16.5 Core clauses (p. 296)
  • 16.6 Secondary options (p. 303)
  • 16.7 ECC tender documents (p. 305)
  • 16.8 Conclusions (p. 309)
  • 16.9 Questions (p. 310)
  • 16.10 References/further reading (p. 313)
  • 17 FIDIC standard forms of international construction contract (p. 315)
  • 17.1 Introduction (p. 315)
  • 17.2 The new forms (p. 315)
  • 17.3 Balance of risk (p. 317)
  • 17.4 Structure of the new Red Book (p. 318)
  • 17.5 The employer (Clause 2) (p. 319)
  • 17.6 The engineer (Clause 3) (p. 320)
  • 17.7 The contractor (Clause 4) (p. 321)
  • 17.8 Commencement, delays, and suspension (Clauses) (p. 325)
  • 17.9 Measurement and evaluation (Clause 12) (p. 329)
  • 17.10 Variations and adjustments (Clause 13) (p. 331)
  • 17.11 Contract price and payments (Clause 14) (p. 334)
  • 17.12 Claims, dispute and arbitration (Clause 20) (p. 338)
  • 17.13 Conclusions (p. 339)
  • 17.14 Questions (p. 339)
  • 7.15 References/further reading (p. 342)
  • 18 Case study: Heathrow Terminal 5 (p. 344)
  • 18.1 Introduction (p. 344)
  • 18.2 Project management philosophy (p. 345)
  • 18.3 T5 Agreement (p. 346)
  • 18.4 The approval process (p. 349)
  • 18.5 Controlling the time, cost and quality (p. 349)
  • 18.6 Logistics (p. 352)
  • 18.7 3D Project model (p. 352)
  • 18.8 The use of the NEC (p. 352)
  • 18.9 Role of the cost consultants (p. 353)
  • 18.10 Lessons learned (p. 354)
  • 18.11 BAA's new procurement strategy (p. 355)
  • 18.12 Conclusions (p. 356)
  • 18.13 References/further reading (p. 357)
  • Index (p. 359)

Author notes provided by Syndetics

Keith Potts is a former Principal Lecturer at the School of Technology, University of Wolverhampton, UK. He was an external examiner in Quantity Surveying and Award Leader of the RICS accredited MSc in Construction Project Management.
Nii A Ankrah is a Senior Lecturer at the School of Technology, University of Wolverhampton, UK. He lectures in Quantity Surveying, Commercial Management and Construction Project Management both in the UK and overseas.
Previous
Back to results
Next
Close