Cost exercises are exercises used to develop the cost plan and to check that the specification for the building systems and components can be achieved within the available cost targets and the cost limit. See also cost limit.
In practice, a cost exercise usually compares the cost of two or more design or specification options, such as alternative frame types, cladding systems or heating solutions. The QS measures and prices each option and reports the effect on the cost plan, often alongside other factors such as programme, whole life cost and buildability. The outcome helps the client and design team make informed decisions and keep the cost plan in balance.
- Options should be priced on a like for like basis, including knock on effects on other elements.
- Results are often recorded in an options appraisal or design change log.
Related terms: cost plan, cost target, value engineering, options appraisal.
