We have entered a new era for benchmarking

By Iain Parker2022-12-22T07:25:00

Cost consultants have traditionally worked with a clear and well defined set of data. The future of cost analysis is rather more challenging, writes Iain Parker

For many years now, the cost consultant has collected cost data and analysed it in a way that attempts to give insight to clients. By understanding key cost and value drivers of construction, and through comparison to other schemes, the consultant helps to explain why costs sit at a particular point within a range.

Benchmarking can have its limitations but it serves as a useful guard against complacency, posing questions as to why certain aspects of the scheme are showing a markedly different cost from the same aspect of comparable schemes.

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