Cost management involves planning, estimating, budgeting, and controlling project expenditure to ensure a project stays within its financial limits. It helps maximise value,minimise waste, and deliver projects on budget, making it essential for successful project outcomes.
At Greyfriars Cost Management, we offer strategic cost management, procurement, monitoring and contract advice from inception through to completion.
We have a ‘hands-on’ approach to reviewing a client’s project brief and tailoring our services and the delivery methodology to their needs.
Our team, led by Tim Boucher, has experience in all sectors of the industry, from one-off dwellings to regeneration masterplans, as well as complex new build and refurbishment of both commercial and public sector projects. Our goal is to provide our clients with valued professional Cost Management (Quantity Surveying) services, which target meeting the brief, whilst also maintaining the project budget.
We can provide these services at any stage of the project timeline, but ideally from inception, where a robust budget can be set, based on the clients’ requirements. As the design evolves our Cost Management team will ensure that there is always one eye on the budget and our input into this design development gives our clients the best chance of maintaining cost control. We adopt a ‘no surprises’ approach.
Our services can provide one-off estimates to allow the client to review the project viability and make informed decisions on how to progress.
At Greyfriars we use the latest software and tools to ensure our cost management advice is accurate, as well as access to the latest cost data. We are keen to explore new methods of project delivery, challenging the traditional procurement strategies and also encourage a collaborative approach to delivering construction projects.
SERVICES
Cost Management services we offer:-
- Feasibility Estimates and Cost Models
Using benchmark data to provide early cost advice, to assist clients in assessing the project viability. - Detailed Cost Planning
Generating a detailed elemental estimate, based on the New Rules of Measurement standards for Cost Planning. Each element of the building is broken down and priced separately and as the design evolves through the RIBA Stages more detail can be added to update estimates. All our estimates assess the cost risks, benchmarking and highlight potential Value Engineering opportunities. - Procurement Advice
There are numerous ways to procure a project, we provide an open-minded approach to your requirements to discuss the options available and the Pro’s and Con’s of each. From single stage, two-stage or negotiated we can provide the right methodology and Contract to use for your project. - Preparation of Tender Packs
We will produce a tender pack of information including preliminaries, schedules of work, employers’ requirements and collate all of the design and supporting information to enable a project to be tendered.
- Post-Contract Cost Management
Managing the financial control of the construction project post-contract, including the change control process, agreement of variations and final account. During the post-contract period we will issue regular cost reports, which track the estimated final account, any cost risks, provisional sums and potential claims. - Value for Money Reports
We can provide a one-off review of a construction costs at any stage of a project to advise clients whether ‘Good Value’ is being achieved. We will prepare a report that reviews the costs against benchmark data, reviewing quantities to give reassurance that a competitive price has been provided. - Funder Monitoring
We provide Bank and Funder monitoring services for a range of lenders. We tailor our services to suit each lender, however the fundamental requirements are to carry out due diligence on the project to identify risks associated with the project and funding. For example, we will review costs, programme, planning, insurances, professional team, experience and contractual arrangements.
A Selection of Our Projects
We provide expert cost management services across all sectors in the built environment, delivering tailored solutions for our clients.
All Projects
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Our Other Services
We provide expert project and cost management delivery across the built environment, delivering tailored solutions for our clients.
