THREE KEYS TO BALANCING YOUR LAB BUILDING BUDGET

A designer tightening the belt on a lab project is not the typical researcher's dream. Professors and researchers alike are looking for great equipment and great space to use it in. But in university science-building or renovation projects, predicted cost overruns amounting to 10% or more of th...

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Bibliographic Details
Published in:R & D : reading for the R & D community 2005-11, p.25
Main Author: Conroy, Timothy R
Format: Magazinearticle
Language:English
Subjects:
Architecture
Budgets
Building construction
Construction costs
Cost control
Cost estimates
Designers
Guidelines
Laboratories
Online Access:Get full text
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Summary:A designer tightening the belt on a lab project is not the typical researcher's dream. Professors and researchers alike are looking for great equipment and great space to use it in. But in university science-building or renovation projects, predicted cost overruns amounting to 10% or more of the budget may delay or even kill the job. So balancing the budget -- within a few percentage points -- is key to the project's viability. Three primary tools for cost management are: 1. setting expectations, 2. using excellent estimating tools, and 3. staying of top of the construction cost estimate on a day-to-day basis. Having the processes, and the mindset, to control cost during the design of a project gives clients great confidence in their team. Truly good designers plan to extract every bit of the budget they can.
ISSN:0746-9179