What is the role of a cost consultant in construction?

No matter the size of your construction project, keeping a handle on your costs is vital. Realistic costing and advice help you stick to your budget but also ensures you can be flexible when required without having a big impact on your bottom line.

This is where a construction cost consultant comes in.

A cost consultant is responsible for providing estimates and advising on the costs involved in individual construction projects. They will likely wear many hats throughout the life of your project, covering an array of duties that are all designed to ensure your project is successful.

So what role does a cost consultant play in construction?

 

Providing pre-construction advice and planning

Planning is key to the success of any construction project and bringing in a cost consultant right at the very start can help ensure your plans are as detailed and accurate as possible.

A construction cost consultant will be able to assess the feasibility of a project early on in the process, ensuring you aren’t spending time and money on something that won’t deliver the required return. They can also advise on aspects of your planning including:

  • Procurement strategies
  • Developmental appraisals
  • Cashflow forecasts
  • Site option appraisals
  • Budget control and monitoring
  • Contracts, including types of contracts, amendments, professional appointments, etc.

This ensures that your project is set up for success from the very beginning and that any potential issues are highlighted as early as possible.

 

Preparing contract documents

Contracts are vital for your protection and to ensure that any consultants, contractors, sub-contractors, etc are protected as well. In many cases, bespoke contracts are needed to ensure that all responsibilities throughout the life of your project are accounted for.

Construction cost consultants can not only assess bespoke contracts and amendments, but they can also help with contract negotiations, ensuring that all bases are covered. They can also assist with contract amendments when these are required, to reduce the risk of cost increases.

Contract and document preparation also covers things like insurance, collateral warranties and novation agreements, so a cost consultant can make things much simpler.

 

Risk management

Risk management is a hugely important part of any construction project and impacts everything from your budget to your target completion date.

Starting a project with a risk register that can be developed as your project progresses ensures that every potential risk is identified and rated. Plans can then be put into place to minimise risks but also deal with them should they arise. This will be factored into the project budget to reduce unforeseen costs and delays.

 

Life cycle cost analysis

Cashflow forecasts allow construction cost consultants to provide lifecycle costs for a building upon completion. This can cover things such as maintenance, running and facilities management costs.

This allows for designs to be fine-tuned to reduce lifecycle costs and also to assess the impact that any potential changes to design and materials may have.

Quantity surveying

Construction cost consultants also provide quantity surveying services, including:

  • Accurate initial estimates
  • Preparation of tender documentation
  • Preparation of full bill of quantities
  • Negotiation of tender
  • Tender analysis and recommendations

Quantity surveying further helps to increase project profitability, ensuring that your return on investment is where you need it to be to make a project feasible.

 

Construction cost consulting from Multiproject

Here at Multiproject, we have processes in place to ensure that every project runs as smoothly as possible. Our consultants provide reliable assessments of project profitability and build an accurate budget that helps you avoid unexpected costs.

We also have decades of experience in the construction industry, allowing us to provide you with expert advice that reduces delays, keeps things running as they should and ensures that all stakeholders are happy.

Our range of cost consulting services is tailored to each client and project, allowing us to support you in the best ways possible so you can focus on what you do best.

Why employ a construction cost consultant?

You need specialist skills that you may not have in your team. It can also mean a lot of extra time is required, which you may not have available.

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