Brief on Building Economics
Economics in general is about the choice in the way that scarce or limited resources and ought to be allocated between their possible uses.
Building Economics serves in cost planning technique and this profession well in offering value added services to clients and the concept of elements has been incorporated in to the development of life cycle costing and value management.
Cost planning, value management and life cycle costing are essential tools in the development of optimum solutions.
To meet construction industry requirements, schematic study of various factors affecting the cost of buildings and their economic consideration in various stages has been made.
Necessity For Economy In Construction :
Design :
The process of producing the required model of a building
Cost :
The total price that the builder wants to complete his work
Management:
The responsibility for ensuring that the functions of planning, control and feed back are successfully brought in terms of design, cost, time and quality.
Value for money in construction
May be increased by improving utility with no change in cost,
Retaining the same utility for less cost or combining an improved utility with a decrease in cost.
Economics in general is about the choice in the way that scarce or limited resources and ought to be allocated between their possible uses.
Building Economics serves in cost planning technique and this profession well in offering value added services to clients and the concept of elements has been incorporated in to the development of life cycle costing and value management.
Cost planning, value management and life cycle costing are essential tools in the development of optimum solutions.
To meet construction industry requirements, schematic study of various factors affecting the cost of buildings and their economic consideration in various stages has been made.
Necessity For Economy In Construction :
- To limit the client’s expenditure
- To achieve a balanced design expenditure
- To provide the client with a value for money project.
- The clients requirements today are more complex than those of past
- The introduction of new constructional techniques, materials and components creates greater problems in assessing the capital and maintenance costs of buildings.
- Site Considerations
- Building Size
- Planning Efficiency
- Plan Shape
- Height
- Storey heights
- Grouping of Buildings
Design :
The process of producing the required model of a building
Cost :
The total price that the builder wants to complete his work
Management:
The responsibility for ensuring that the functions of planning, control and feed back are successfully brought in terms of design, cost, time and quality.
Value for money in construction
May be increased by improving utility with no change in cost,
Retaining the same utility for less cost or combining an improved utility with a decrease in cost.
