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90 Atkinson Way, Australia
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info@impendium.com
90 Atkinson Way, Australia
info@impendium.com
Serving Sydney, Auckland across Australia & New Zealand (NZ)
Preliminary developed design stage
Elemental Costing is an estimation method that breaks down the project into cost components or elements at an early design stage.
the purpose of elemental costing is to guide the ‘all-up’ unit costs of the various materials, systems and treatments that form a building’s elements.
This estimation method is instrumental in estimating the overall project cost.
Our approach involves measuring the quantities for each element and applying composite rates for each. This results in a detailed cost breakdown for the project, highlighting the estimated costs for each element.
Perfectly timed during the semi-developed planning stage, our service aids in refining project designs with a clear understanding of cost implications
We segment your project into elements, clearly showing where and how costs are allocated across different project phases.
Our approach is adaptable to various projects, including residential, commercial, and industrial constructions, ensuring tailored solutions for every client.
This proactive approach to cost planning significantly mitigates the risk of budget overruns, ensuring your project remains financially viable from conception to completion.
Elemental Costing breaks down the project into major components (e.g., foundations, walls, roof), focusing on specific elements. Total project costing provides an overall cost, encompassing all aspects of the project from start to finish, including elements, labour, and additional expenses.
Elemental Costing is quite accurate for understanding the cost of individual components but may not capture the full picture of total project costs due to potential overlaps and missing indirect expenses.
The cost of an Elemental Costing report can vary significantly based on the project’s scope and complexity. Consulting specific service providers for detailed pricing is recommended.
Challenges include ensuring completeness of cost elements, accurately estimating quantities and rates, integrating the costs of interconnected elements, and updating estimates to reflect market changes in material and labour costs.
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