Cost plan strategy
The RIBA Plan of Work published by the RIBA in 2020 suggests in relation to the Cost Plan Strategy that:
‘The Cost Plan represents the anticipated construction cost of the building and, as such, it represents only a portion of the Project Budget. The Cost Plan used to be prepared at the end of Stage 2 or Stage 3. At the outset, the Cost Plan can be based on industry norms for similar building types adjusted to take account of market conditions, project abnormalities, Project Risks and contingencies. As design information is developed, an elemental Cost Plan is prepared. Essentially, this breaks down the cost for the building into the different Building Systems.’
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