Read time: 3 minutes For those architects requested by their clients to prepare estimates of the costs of replacing buildings it is necessary to have ...

Read time: 6 minutes What is a cost-plus contract? Under a cost-plus contract arrangement the contractor is paid for the actual cost of the work ( ...

Most building contracts include provision for prime cost items and provisional sums. A prime cost item is an allowance in the contract for the supply ...

The ABIC Commercial Cost Plus (CP-2014 C) contract is intended for use where an architect administers a cost plus contract. CP-2014 C replaces the ...

Read time: 4 minutes Guaranteed maximum price (GMP) contracts provide an alternative pricing model to the more traditional fixed price (or 'lump sum’ ...

Read time: 4 minutes The level of accuracy of a project budget estimate is in part a product of the method of estimating that is applied. Architects ...

Project budget management is the process of managing the developing design against the project budget. It is part of the architect’s service to ...

Read time: 3 minutes Terms used in the process of estimating project budgets should not be confused with similar terminology used by government or by ...

Read time: 1 minute Architects are responsible for managing many aspects of the project lifecycle, which may include design and documentation, ...

Read time: 6 minutes The provision of an accurate budget estimate forms part of an architect's responsibility and should be met through either the ...