In this updated and expanded second edition, Keith Potts and Nii Ankrah examine key issues in construction cost management across the building and civil engineering sectors, both in the UK and overseas. Best practice from pre-contract to post-contract phases of the project life-cycle are illustrated using major projects such as Heathrow Terminal 5, Crossrail and the London 2012 Olympics as case studies.
More worked examples, legal cases, case studies and current research have been introduced to cover every aspect of the cost manager’s role. Whole-life costing, value management, and risk management are also addressed, and self-test questions at the end of each chapter support independent learning.
This comprehensive book is essential reading for students on surveying and construction management programmes, as well as built environment practitioners with cost or project management responsibilities.
Praise for the First edition
'A very well written book, it is readable, it is a valuable resource and it is a very useful tool for practitioners… anyone involved in cost manahement will find much useful theory and case studies as well as advice.' Building Engineer
'Provides a good overview in a chatty style while taking a very practical approach… A valuable addition to the literature. It will serve well as an undergraduate text… For those engaged in teaching cost management, this work will make an excellent foundation.' Construction Management and Economics
Part 1: Introduction 1. Introduction and Overview 2. Reports and Recommendations Part 2: Management of the Pre-contract Stage 3. Selecting the Cosultants and Contractors 4. Pre-contract Cost Management 5. Cost Management on PFI Projects 6. Contractor's Estimating and Tendering Part 3: Key Tools and Techniques 7. Value Management 8. Risk Management 9. Whole-life Costing Part 4: Procurement Strategies 10. Organizational Methods 1 11. Organizational Methods 2 12. Payment Systems and Contract Administration Part 5: Management of the Post-contract Stage 13. Contractors' Cost Control and Monitoring Procedures 14. Change Management – Valuing Variations 15. Claims Management Part 6: Contracts and Case Studies 16. The Engineering and Construction Contract 17. FIDIC Standard Forms of International Construction Contract 18. Case Study: Heathrow Terminal 5