Document downloads - Cost reporting on major programmes
Available downloads
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Cash flow forecasting – UK
Published July 2024
This practice information summarises what cash flow forecasting is, how to produce a useful forecast and how to then use the forecast to assess progress on site as well as other issues, and to assist both employers and contractors to analyse actual expenditure against forecast expenditure.
For the purposes of giving guidance the client is referred to as the 'employer' and the main contractor as 'contractor'. However, much of the guidance can equally be applied to a contractor/sub-contractor or supplier arrangement.
This is part of RICS' Black Book, which is a collection of technical practice documents that covers all processes throughout the construction project life cycle. The documents are essential development tools for junior professionals working through their APC and useful guides to best practice for more experienced professionals.
A project is currently underway to review and update the Black Book content with the aim of producing a comprehensive new edition. Expected to publish in 2025, the new Black Book will comprise an overarching global professional standard, accompanied by practical guidance material. -
Cost analysis and benchmarking – UK
Published August 2024
This practice information summarises the purpose and process of both cost analysis and construction project benchmarking.
It is based on current practice within the UK and covers the general principles applying to each operation. It does not seek to cover every approach to cost analysis or benchmarking but looks at the subject areas from a practical aspect.
In addition, while the processes of cost analysis and benchmarking are applicable to the whole life costs associated with the construction and operation of a building, this guidance note considers capital cost only. The principles covered may, however, also be applied to costs in use.
This is part of RICS' Black Book, which is a collection of technical practice documents that covers all processes throughout the construction project life cycle. The documents are essential development tools for junior professionals working through their APC and useful guides to best practice for more experienced professionals.
A project is currently underway to review and update the Black Book content with the aim of producing a comprehensive new edition. Expected to publish in 2025, the new Black Book will comprise an overarching global professional standard, accompanied by practical guidance material. -
New rules of measurement
Published October 2021
Effective from 1 December 2021
Reissued October 2022
New rules of measurement (NRM) provides a standard set of measurement rules and essential guidance for the cost management of construction projects and maintenance works.
For the first time, all three volumes of the NRM suite have been published at the same time. The updated suite consists of three separate volumes:
- NRM 1: Order of cost estimating and cost planning for capital building works
- NRM 2: Detailed measurement for building works
- NRM 3: Order of cost estimating and cost planning for building maintenance works
The primary development in recent years has been the publication of the International Cost Management Standard (ICMS) (formerly known as International Construction Measurement Standards). Together with the Cost prediction professional standard, there now exists a hierarchy of cost management standards and tools from the high-level and global ICMS, through the more detailed principles of all aspects of cost prediction in the professional standard, to the detailed rules and guidance in the NRM suite.
Other recent developments that have resulted in the need for a revised edition include the publication of a new RIBA Plan of Work (2020), which provides a framework for the analysis of construction costs.
A mapping tool between NRM and ICMS will be provided here shortly, mapping the new NRM with ICMS 3, launched in November 2021. While NRM is based on UK practice, it provides a framework for a common set of rules and guidance with global application.
A number of other supporting documents are also being provided alongside the new NRM suite, which are designed to assist users with their understanding and use of the new NRM suite. These will be available from, or shortly after, launch.
These documents were reissued in October 2022 as practice information. They had previously been published in October 2021 as guidance notes. No material changes have been made to the documents. -
Cost analysis and benchmarking – global (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
This first edition guidance provides a summary of the purpose and process of both cost analysis and construction project benchmarking.
The purpose of this guidance note is to ensure consistent practice, delivered in a professional manner that is in line with internationally recognised guidance.
This is part of the RICS QS and Construction Standards. -
Cash flow forecasting – global (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
This publication provides best practice guidance on cash flow forecasting for project and cost managers in all world regions.
The purpose of this guidance note is to ensure consistent practice, delivered in a professional manner that is in line with internationally recognised guidance.
This is part of the RICS QS and Construction Standards.
Please be aware that this guidance note contains some material which is in the process of being updated for revisions to the CDM Regulations, RIBA Plan of Work, and updates to the JCT, NEC and FIDIC suites. Members are made aware of these impending revisions in order that they first check the most up to date position before electing to act in accordance with this guidance document. -
Overview of a 5D BIM project (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
Through consultation with RICS, Henry Riley LLP was invited to write an information paper based on its experience of 5D BIM throughout 2012 and 2013, with particular focus on a project in which an RICS NRM 1 pricing document based on quantification from a BIM model was issued for tender.
This 1st edition information paper includes: project details, key problems identified, process and solution pre-tender, post-tender review and lessons learnt. -
International BIM implementation guide
Published September 2014
Effective from 1 March 2015
This guidance note highlights international high-level principles around how to implement and use BIM in the design, construction and operation of our built environment, including facets of procurement management and asset management. It is intended that these principles are used as an overarching framework for potential national standards or regional guidelines on BIM, and also by individuals and organisations. Therefore, this guidance note is designed for any firm or professional using BIM or considering using BIM in the foreseeable future. -
Cost reporting
Published March 2015
Effective from March 2015
This 1st edition guidance note sets out the principles of cost reporting from the perspective of the quantity surveyor to the client during construction.
This guidance note explains the purpose of cost reporting, the factors affecting outturn cost and explores the different formats and types of cost report.
This guidance note covers:
- the purpose of cost reporting;
- cost reporting models;
- report formats;
- establishing the budget;
- treatment of variable costs;
- strategic importance; and
- reporting of loss and expense.
This is part of RICS' Black Book, which is a collection of technical practice documents that covers all processes throughout the construction project life cycle. The documents are essential development tools for junior professionals working through their APC and useful guides to best practice for more experienced professionals.
A project is currently underway to review and update the Black Book content with the aim of producing a comprehensive new edition. Expected to publish in 2025, the new Black Book will comprise an overarching global professional standard, accompanied by practical guidance material. -
BIM for cost managers: requirements from the BIM model
Published: August 2015
Effective from: August 2015
This global guidance note should be used as a source of reference for quantity surveyors or cost managers when BIM has been implemented in the life cycle of a project. It offers an awareness of BIM and provides readers with recommendations for good practice when producing measurement outputs.
This guidance note covers:
- working in a BIM environment
- background information on naming structures conventions/data drops
- internal practice procedures and
- BIM measurement.
This guidance note is effective from publication in August 2015. -
Cost report
On a cost-based contract, use this report to show performance of cost against the baseline. Use the formulas in this report to provide the SPI and CPI for reporting an assessment of financial and schedule progress.
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Cost summary
On target cost-based contracts, use this report to summarise the cost position showing the target position (original and revised) plus the value of CE’s which are anticipated to become part of the target to derive a total forecast target and compare it against the anticipated forecast final cost. Any variance could be explained in a narrative.
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Headline cost summary
A headline cost summary for the project to summarise overall performance and provide an explanation of any variances calculated.