Cost planning is a specialist technique introduced by quantity surveyors. It aims to help all the members of the construction team - architects, engineering consultants, interior specialists - to arrive jointly at practical designs for a project and stay within the budget.
Effective cost planning will help to ensure that, once a realistic estimate is agreed, everything that follows is in accord with it, from the successful contractor's tender to the final project cost. In planning construction costs, maintenance and running costs are borne in mind, thus helping to achieve a project that is cost effective throughout its life.
When the client decides to change the plans and introduces variations, the quantity surveyor will rapidly assess the cost implications.
Cost planning means improved economy standards and so better value for money. Constant monitoring means that the risk of overspending can be spotted early and prompt corrective action taken.