Includes finishes and lighting upgrades no electrical, HVAC, or life safety upgrades. It is, however, the most accurate and can be used for tendering. Now in its third year, the 2011 Hotel Cost Estimating Guide. The method requires a Bill of Quantities being produced before an estimate can be obtained. This method is time consuming in comparison to those listed above. Data on costs is obtained from such sources as Spon’s or Wessex (these provide up-to-date pricing information for building work) or from the use of a number of computer software programmes which are now available. Cost can then be obtained by taking off quantities and building up an estimate. This requires a detailed amount of information about the design requirements of the project. Best used on simple offices or car parks. Spon's Mechanical and Electrical Services Price Book 2015 continues to be the most comprehensive and best annual services engineering price book currently available, providing detailed pricing information across the full range of mechanical and electrical services, together with higher-level costs for a diverse range of systems and different building applications. It is an easy method to calculate though it is not very accurate.
This information may be obtained from the developers own projects or from other developers.
This is also based on historical data obtained from similar completed projects on a cost per metre squared basis. the Royal Institution of Chartered Surveyors quarterly review of building prices. Data for the calculation of costs can be obtained from a number of sources i.e. This is based on historical data from completed projects with the costs broken down into the elements of construction and shown on a metre squared basis.
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