Conceptual cost planning

Generally, a client remembers the first estimate that he or she is provided with; as it is given at the earliest stage with the least amount of information. As such, how is the surveyor able to provide a reasonable estimate of the cost at this stage?

Conceptual cost planning is defined as the forecast of the cost at an early stage of the project before any significant amount of information - either through a detailed design or specification - is available.

The objective of conceptual cost planning is to advise the client on the anticipated cost while he or she is contemplating the feasibility of a project and whether to take the development further.

This estimate is prepared using either functions e.g. £/bed, £/room or £/m2 for a typical building type or broken down for elemental costs, depending on the amount of available information at this stage.