The unit rate that, when multiplied by the GIFA, gives the total building works estimate (i.e. works cost estimate minus main contractor’s preliminaries and main contractor’s overheads and profit). Other cost estimates that form part of an order of cost estimate or a cost plan should also be converted to cost/m2 of GIFA when reporting costs to the client and project team (i.e. to express cost targets for group elements, elements and sub-elements, as well as the cost limit). They are also used in cost analyses and benchmarking as a means of documenting costs of previously completed building projects.
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