Design Cost Modelling - The Way Forward
Design cost modelling is a fundamental cost management support tool used by construction economists/quantity surveyers. The accuracy of design cost modelling is vital to the success of building developments and the viability of clients, consultants and contractors. This paper reports upon design cost modelling research currentlu being undertaken at the department of Building and Construction Economics at RMIT. The paper positions the research by presenting an overview of design cost modelling techniques, their accuracy, deficiencies and usage. Conclusions are drawn that traditional methods of building procurement stifle attempts to advance the accuracy of current design cost modelling techniques used by consultant quantity surveyors. However, recent shifts in procurement trends provide fresh opportunities to re-invigorate design cost modelling research.