Construction Financial Planning and Cost Control
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Construction Financial Planning and Cost Control

Created by
@DeservingHeliotrope2150

Questions and Answers

The ______ role includes preparing working drawings for submission to LAs with all the documents for building approval.

Architect’s

In the Design Development Phase, the ______ design is developed.

schematic

One of the deliverables of the OSC 3.0 PLUS process is the ______ Approval.

Building

In the CONTRACT DOCUMENTATION & AWARD stage, the Architect’s role is as the ______ Administrator.

<p>Contract</p> Signup and view all the answers

The preliminary estimate of ______ costs is updated in the Design Development Phase.

<p>construction</p> Signup and view all the answers

Other Consultants complete their ______ as part of the OSC 3.0 PLUS process.

<p>works</p> Signup and view all the answers

The project ______ and implementation schedule are updated in the Design Development Phase.

<p>planning</p> Signup and view all the answers

The ______ Notice process includes Deposit of CCC (Form F) & Form G1 – G21.

<p>Final</p> Signup and view all the answers

The Project Schedule ______ is one of the key deliverables of the OSC 3.0 PLUS process.

<p>Approval</p> Signup and view all the answers

PAM 2006 (QTY) is used in the ______ preparation stage.

<p>pre-contract</p> Signup and view all the answers

Study Notes

Construction Cost Control & Financial Planning

  • Contract submissions and valuation exercises are key during the budget period and issuance of certificates for payment.
  • Practical completion certificates are essential for acknowledging finished work in accordance with the building contract.
  • Risk minimization strategies include identifying potential delays, cost overruns, quality issues, and variations in work.
  • The four key resources (4 Ms) in management are:
    • Money
    • Material
    • Manpower (Human resources)
    • Machinery

Planning Permission

  • Types of development needing planning approval include:
    • Work operations
    • Material change of use
    • Land subdivision and amalgamation
  • Responsibilities in the schematic design phase encompass:
    • Taking client instructions and analyzing briefs
    • Preparing preliminary sketches and submission drawings
    • Coordination with local authorities for approval documents

Deliverables in Planning Permission

  • Deliverables include:
    • Planning permission and Form A
    • Budget approval
    • Project schedule approval
    • Consultant coordination and completed works

Building Plan Submission & Approval

  • During the design development phase, necessary actions include:
    • Creating schematic design drawings
    • Preparing working drawings for submission to local authorities
    • Updating preliminary construction costs and project schedules

Key Deliverables in Design Development

  • Building approval is crucial for moving forward with construction.
  • Budget approval and project schedule confirmation are significant components of the development process.
  • Ensuring consultants complete their assigned works is necessary for project progression.

Contract Documentation and Award

  • The role of the architect as the contract administrator is pivotal in managing project documentation and ensuring compliance.
  • Pre-contract preparation is crucial and involves multiple key steps to ensure a successful project kickoff.

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Description

This quiz covers financial planning and cost control in construction projects, including valuation exercises, initial budgeting, and project financial analysis.

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