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QSP7BEC Cost Estimation Assignment: Industrial Park Case Study for Post-2021 Market Analysis and Design Efficiency
Assignment Type
Individual Assignment
Subject
QSP7BEC Building Economics
Uploaded by Malaysia Assignment Help
Date
05/16/2025
Scenario
Your private sector client has purchased a site and has plans to build an industrial park consisting of eight single-storey steel-framed light industrial units with a total gross internal floor area (GIFA) of 2,200m2 and with associated provision for loading and parking. The existing brownfield site has been cleared ready for development and is located on the outskirts of a town centre in a location of your choice. The units will be for let.
You have been employed as cost consultant on this proposed development and are aware that the client’s team had previously prepared a rough budget cost for the project as part of the business case at Stage 0 Strategic Definition. However, the project was postponed at that time due to reallocation of funding within the client’s organisation.
The client is keen to start work on site as early as possible and it is their expectation that they can now proceed with the design and tendering of the building on the basis of the original budget cost prepared in March 2021. It is also clear from informal discussions that the scope of the work may have changed since then and the client has also expressed a desire to incorporate designs that will minimise their long-term costs and provide a reliable return on investment. On reviewing the initial cost advice, it is your professional opinion that costs will now exceed the initial budget.
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Task
Your manager has asked you to prepare the following information which will form the basis of a report to the client. In an email to your manager critically discuss the following:
a. Updating Cost Advice from 2021
The need to update the cost advice from 2021 identifying reasons with examples, and supported by market data, of how costs may have changed due to global events since the original cost advice was issued.
b. Design Factors and Cost Impact
The need to consider design factors and their impact on the cost of construction. Using examples of two different design factors affecting the development, illustrate how efficient design could help to reduce any potential increase in cost. Include sketches and calculations related to the project scenario to aid explanation and provide a visual understanding of the cost effect that the design options would have on the construction cost of the units.
c. Early Cost Advice Methods
Early cost advice methods used to update the project cost estimate and establish the cost limit for the project including recommendation of a suitable approach. Your discussion should include factors which might influence the accuracy of the estimate. Make reference to the RIBA 2020 Plan of Work stages within your answer.
Please note each part of the task carries equal weighting.
Additional Guidance
• Supporting information on how to prepare an email is available in the Study Skills area of the VLE.
• Please state any assumptions clearly within your answer.
• Any backup information can be placed within the email or be in an appendix to the answer in the form of an email attachment.
Reference list
You should include a reference list with a minimum of six separate relevant and appropriate sources that you have written about and cited within your work.
A bibliography of uncited sources is not required.
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Marking guidance for this assignment
This guidance is designed to help you to do as well as possible in your assessment by explaining how the person marking your work will be judging it.
Your work will be assessed in relation to the requirements set out in the assessment criteria marking guide shown below and the grading guidance section below.
It is recommended that you read both of these sections before starting your assessment to learn what will help you to achieve the highest marks. Before submitting your assessment you should review it to check you have produced what is required to achieve the highest marks.
When you receive your feedback from your tutor you should be able to see where you gained marks and, where relevant, recommendations about how to improve your performance going forward.
Grading guidance
This grading guidance section explains in more detail what a submission for this assignment should include in order to achieve a mark at the threshold, good and excellent standards.
| Threshold | You will have met the criteria for Threshold by recognising the need to update cost advice to reflect current markets and will support your discussion with researched market evidence. Two appropriate design factors that can affect the cost of construction will be selected and discussed in relation to the assignment scenario supported by sketches and calculations. You will have identified and discussed the methods used to update the cost advice with relevance to the stage of the project and outlined factors that might affect accuracy of the cost advice. Your answer will be supported by evidence of research and in-text citations. |
|---|---|
| Good | You will have met the criteria for Threshold and you will demonstrate good understanding of how costs can change as a result of global events using market and cost data research to illustrate the possible changes to cost as a result. You will demonstrate a good understanding of how efficient design can affect the cost of construction and your discussion will be supported by sketches and calculations that relate to the project scenario. In addition, you will have critically discussed the methods of preparing cost advice with particular application to the stage of the project and accuracy of the cost advice will be critically reviewed. |
| Excellent | You will have met the criteria for Good and you will demonstrate advanced understanding of how construction costs are affected by global events, with effective and sophisticated use of market research. There will be comprehensive understanding of how the design options will affect the cost of construction in relation to the assignment scenario. Your answer will demonstrate an excellent understanding of the importance of pre-contract cost advice methods with application to the characteristics of the project, demonstrating sophisticated appreciation of the accuracy of cost advice at this stage of a project. Reasoned and insightful assumptions will have been made about the project and client, and arguments developed around these. |
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