Virtus utilise a simple three step process to ensure that the client receives a high quality Cost Management service.
BID (Budget, Improve, Deliver) reflects the different stages that the project will encounter.
At the earliest stage of the project we will develop cost models for the proposed scheme that will allow easy analysis of the design; benchmarking not only costs but also design criteria to ensure that the client and design team are aware of how efficient the current design is and what could be done to improve the business case.
In the majority of instances, the client's budget fails to match initial design expectation. We therefore focus on ways of improving the client's value of the proposed asset. This is done by design option studies and value engineering. In addition, project risks are catalogued and managed to reduce risk exposure and assist in controlling design. Sustainability Issues and Whole Life Costing are also explored early in this stage to make sure that the proposed investment not only matches the needs of today but are also "future-proofed".
Having developed the scheme into a sustainable, affordable solution, the challenge is to ensure that the final design is delivered within a commercially controlled environment. We develop the tender and contract information in conjunction with the design team, so as to make sure that scope creep from previous design iterations does not occur. Appropriate procurement systems are used, dependent upon the client's attitude to risk, and a robust change control procedure is applied in conjunction with the risk management process. Finally, knowledge and data from the commission is fed into our database to inform future commissions.
Key features of our Cost Management Service are;