Approximate bill of quantities vs approximate quantities cost plan
An approximate bill of quantities should not be confused with an approximate quantities cost plan. This article explains the differences between them.
An approximate bill of quantities can be used on projects where it is not possible to prepare a firm bill of quantities at the time of tendering. Generally, the design will be relatively complete, but there is either insufficient time or information to determine the exact quantities required and so a conventional bill of quantities cannot be prepared.
For more information, see Approximate bill of quantities.
An approximate quantities cost plan is part of the iterative cost planning process and is a development of the elemental cost plan. Unlike the elemental cost plan (in which the cost of elements is broken down from the overall construction cost, based on the experience of the cost consultant and known costs of similar completed projects), the approximate quantities cost plan is a first attempt to measure defined quantities from drawings. In effect, it is a costed approximate bill of quantities.
For more information, see Approximate quantities cost plan.
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