Construction leaders launch Covid-19 cost forecasting tool
The Construction Leadership Council has launched a tool to help contractors assess the impact and forecast site costs from new Covid-19 safe working arrangements.
The new toolkit arms contractors with a standard methodology that sets out cost implications of restricted working that allows clients to compare potential outturn costs against previous expectations.
This should also help clients to make informed investment decisions on viability, improving robustness of pipeline and driving long term economic growth.
The CLC said the unprecedented nature of the pandemic was affecting the progress and productivity of existing and future contracts, meaning that the information upon which estimates were usually prepared no longer applied.
Simon Rawlinson, Chair of the Professional Practice Task Group said: “The Cost Assessment Toolkit will help the construction industry manage the impact of Covid-19 on existing and future contracts.
“It establishes a standard methodology to incorporate the cost impacts of the virus into estimates, provides clarity on exclusions and through the collection of industry-wide data allows clients and supply chains to compare their project costs against an aggregated data set.
“By providing the tools to measure and therefore improve productivity, the toolkit acts as a guide to ascertain and assess project risks and establish viability for the long term.”
Download all the Toolkit documents:
Originally published on: https://www.constructionenquirer.com/2020/07/22/construction-leaders-launch-covid-19-cost-forecasting-tool/
by: Aaron Morby