The Chartered Institute of Building (CIOB) has updated the Code of Estimating Practice in recognition of how the procedure, practice and process of construction has changed
Estimating is the systematic calculation of projected construction and overhead costs for a construction project and it is an essential skill for a successful contractor. The CIOB believes the process needs to be made more reliable, more dynamic and modernised.
This latest edition of the Code of Estimating Practice examines the processes of estimating and pricing, providing best practice guidelines for those involved in procuring and pricing construction works. This includes a new approach to assessing links between production planning, resource requirements, time management and control of costs.
Author of the publication Professor Roger Flanagan PPCIOB, commented: “Estimating is at the core of every construction project. If the estimate is wrong, everybody suffers; the contractor, client, consultants and companies involved in the supply chain.
“A new approach to estimating is necessary to keep the industry relevant and ensure accurate and reliable pricing is at the heartbeat of construction.”
The Code of Estimating Practice, long established as a principal publication in the construction industry, now incorporates more contextual and educational material alongside the code of practice, the only code of practice on construction estimating.
This publication is an important read for construction contractors, specialist contractors, quantity surveyors/cost consultants and for students of construction and quantity surveying.
You can access the publication here: https://www.wiley.com/en-gb/New+Code+of+Estimating+Practice-p-9781119329466
