When specifying on small works projects where the contract does not support the use of bills of quantities then it can be useful to create a financial summary based on the content of the specification (see article on our website for further reading).
This financial summary can be used for a number of purposes.
- Prior to tender – to break down any cost estimate to the client
- Prior to construction – to compare tenders
- Prior to completion – to assess valuations and as a base of agreeing the price of any variations
Figure one shows how to generate a Financial Summary from NBS Chorus:
(Click the images below for larger versions)
(Click the images below for larger versions)
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| Figure 1 – Generating a Financial Summary from NBS Chorus |
In Figure 2 below, it can be seen that each section in the specification is listed as a row in the exported spreadsheet. The total value at the base of the spreadsheet automatically adds the values of each row.
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| Figure 2 – The Financial Summary |
A second worksheet is also produced with a list of all clauses in the…