Net benefits
The New Rules of Measurement (NRM) are published by the Royal Institute of Chartered Surveyors (RICS). They provide a standard set of measurement rules for estimating, cost planning, procurement and whole-life costing for construction projects.
NRM3: Order of cost estimating and cost planning for building maintenance works, the terms ‘Net Savings’ (NS) and ‘Net Benefits’ (NB) refer to:
'…the present value of savings/benefits in the operation ‘in use’ phase less the present value of the additional investment costs to achieve them. It provides a measure of cost effectiveness and of the benefits to be achieved from investment options. NS/NB greater than 0 (zero) indicates positive cost effectiveness.'
In natural heritage terms, net benefit (enhancement / new benefit) refers to: ‘… the genuine (as opposed to asserted) improvement of the natural heritage interest of a site or area, for example, because adverse effects are limited in scope and scale, and the project includes measures to improve the physical state or management of landscapes or habitats, or new landscape features or habitats, which are better than they are at present. There is, therefore, a net or new benefit to the natural heritage.’ Ref A handbook on environmental impact assessment, 4th edition, published by Scottish Natural Heritage in 2013.
[edit] Related articles on Designing Buildings Wiki
- Capital costs for construction projects.
- Cost plan.
- Cost-benefit analysis in construction.
- Development appraisal.
- Discounting.
- Internal rate of return for property development.
- Investment.
- Life cycle assessment.
- Net present value.
- NRM1.
- NRM2.
- NRM3
- Profitability.
- RICS.
- Value for money.
- Whole life costs.
- Yield.
Featured articles and news
CIOB launches global mental health survey
To address the silent mental health crisis in construction.
New categories in sustainability, health and safety, and emerging talent.
Key takeaways from the BSRIA Briefing 2024
Not just waiting for Net Zero, but driving it.
The ISO answer to what is a digital twin
Talking about digital twins in a more consistent manner.
Top tips and risks to look out for.
New Code of Practice for fire and escape door hardware
Published by GAI and DHF.
Retrofit of Buildings, a CIOB Technical Publication
Pertinent technical issues, retrofit measures and the roles involved.
New alliance will tackle skills shortage in greater Manchester
The pioneering Electrotechnical Training and Careers Alliance.
Drone data at the edge: three steps to better AI insights
Offering greater accuracy and quicker access to insights.
From fit-out to higher-risk buildings.
Heritage conservation in Calgary
The triple bottom line.
College of West Anglia apprentice wins SkillELECTRIC gold.
Scottish government launch delivery plan
To strengthen planning and tackle the housing emergency.
How people react in ways which tend to restore their comfort.
Comfort is a crucial missing piece of the puzzle.
ECA launches Recharging Electrical Skills Charter in Wales
Best solutions for the industry and electrical skills in Wales.
New homebuilding skills hub launch and industry response
Working with CITB and NHBC to launch fast track training.