A brief overview of the services offered by Michael Barrett Partnership are as follows:
Initial Cost Advice / Feasibility Studies
To obtain best value for money, the viability of each project should be carefully examined. Cost must be weighed against aesthetics, quality, space and time, and an acceptable budget agreed. Close collaboration at this stage between the project team members will bring maximum benefit to our Clients. The partners of Michael Barrett Partnership and their staff are specifically trained to lead this process.
Budget Estimating & Cost Planning
An initial budget cost is established at this stage by reference to cost data derived from our cost data base of previous projects and by measurement and pricing of the key elemental quantities. The budget is allocated amongst the various building elements to establish limits within which each element is allowed to develop. As the scheme develops, each element is checked to ensure it remains within its limit and the overall scheme remains within budget.
Michael Barrett Partnership implement the most up to date Value Engineering techniques during the design stages of the project in order to ensure that the most economically effective solutions are adopted, consistent with the design/operational requirements of our Clients. We convene and chair specific Value Engineering Workshops during the early stages of projects. These workshops ensure that a correct balance between cost and functionality is achieved and that this philosophy is adopted by all parties.
At all stages of the project we will review the relevant risks pertaining to that stage of the project. We will utilise the Quantitative Risk Assessment (QRA) techniques in assessing these risks. Risks may include construction cost overrun, programme risks, changes in legislation or the risk of value not exceeding costs. The results will be presented using the latest “@ Risk” software. This will present the combination of possible scenarios utilising a simulation process.
Life Cycle / Whole Life Costings
Life cycle costing is commonly interpreted as the operating cost of buildings over the forecast useful life attributed to them. The wider and more correct view considers the full range of costs arising from the provision of accommodation to fulfil a particular user requirement and which accrue from initial provision of the facilities right through the anticipated life span and include initial capital costs, subsequent operating costs and replacement or renewal at intermediate stages of the life cycle. All these factors require evaluation on a common basis and should be included in the decision.
Advice on Contract Procedures
Michael Barrett Partnership examine all possible contract / procurement options and advise on the pros and cons of each. We then recommend the most appropriate option for the specific project. Methods include the traditional method of tendering, two-stage tendering, negotiated contract, management contracts, design and construct contracts and cost reimbursement contracts.
Preparation of Contract Documentation
At this stage of the project we prepare the conditions under which contractors will tender the project including providing expert advice on the adequacy of the levels of insurance, liquidated damages, dates for completion etc. We also prepare detailed Bills of Quantities, Instructions to Tenderers and Forms of Tender.
Cost Control during Construction
Determination to complete the project on time and within the original budget is central to cost control during the construction stage. Michael Barrett Partnership continuously monitor the work as it proceeds through regular site visits and careful record keeping. Variations are continuously monitored and evaluated and monthly cost reports updated to show the projected final account. In the event of a projected cost over-run, evasive action is taken by making design adjustments to achieve the necessary cost reductions.
Valuation of Work
Monthly valuations of work-in-progress are carried out in order to make stage payments to the contractor. This includes the physical measurement of the work on the site and materials delivered. Cash flow projections are provided to indicate anticipated monthly expenditure throughout the construction stage and this is compared to actual expenditure should deviation arise.
Settlement of Final Account
Michael Barrett Partnership negotiate with the Contractor to sign-off the cost of work as each element is complete. The advantage in this process to the contractor is that he is paid in full for work completed as well as variations completed and agreed. The further advantage to our Clients is that there is a rolling Final Account which can be speedily agreed upon project completion with no surprises.