NRM3 Cost Management Handbook

The 'RICS New rules of measurement: Order of cost estimating and cost planning of building maintenance works (referred to as NRM 3) is the cornerstone of good cost management of capital building works projects, enabling more effective and accurate cost advice to be given to clients and other project team members and facilitating better cost control. The NRM 3 Cost Management Handbook provides expert guidance on preparing order of cost estimates and cost plans using NRM 3, as well as tips and techniques on how to use the rules as a toolkit for risk management and procurement. It also explains how the rules provide the basis for capturing historical cost data and how the elemental breakdown and cost structures, together with the coding system, developed for NRM3 anticipates the widespread adoption of Building Information Modelling (BIM).

Format: Paperback / softback
Length: 576 pages
Publication date: 01 January 2021
Publisher: Taylor & Francis Ltd

The 'RICS New Rules of Measurement: Order of Cost Estimating and Cost Planning of Building Maintenance Works (referred to as NRM 3)' is a crucial cornerstone for effective cost management of capital building works projects. It enables more accurate and reliable cost advice to be provided to clients and project team members, while also facilitating better cost control. The NRM 3 Cost Management Handbook, authored by the co-author of NRM 3, offers expert guidance on preparing order of cost estimates and cost plans using NRM 3. It covers not only the usage of the rules for quantifying building works but also provides tips and techniques for risk management, procurement, and cost analysis. Additionally, the handbook explains how NRM 3 provides the basis for capturing historical cost data for future order of cost estimates and elemental cost plans. It illustrates how the rules are used to manage the entire cost management cycle and highlights the anticipated adoption of Building Information Modelling (BIM), which aims to maximize return on investment by defining a fluid flow of data use. The NRM 3 Cost Management Handbook is essential for anyone involved in or interested in cost management, providing valuable insights and best practices for the construction industry.

Dimension: 246 x 174 (mm)
ISBN-13: 9781138804913