2009 BCIS International Cost Elements Enquiry Report

HONG KONG, Dec. 8 /PRNewswire-Asia/ -- With the construction industry growing in new markets and more UK companies working overseas, the need for comparable cost data internationally has never been more acute. As a result BCIS (the Building Cost Information Service of RICS) has compiled a comprehensive report into international construction cost standards.

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The survey is a continuation of the work BCIS has carried out in Europe and provides information on working practices from 40 countries. It gathers basic information on the provision of cost advice to clients - in particular, the primary advisors of clients, classifying buildings elements for costing purposes, area measurement standards, structuring construction cost related information, procurement routes, and available sources of cost related information.

The research not only highlights what standards are in place, but also indicates the best sources for finding accurate information and data in each of the countries surveyed. Other report findings include:

    -- Respondents from 19 out of the 40 countries did not claim any published
       standard elemental classification of building parts for costing
       purposes
    -- Many countries where such standards exist tend to be linked
       historically with the United Kingdom
    -- In the absence of locally agreed standards, professionals commonly
       adopt 'foreign' standards or ad hoc in-house developed standards
    -- There are said to be no classifications of standard building types in
       use in 11 of the countries, and the respondents from a further 19
       countries did not identify the title of a published third party
       standard.

Commenting Andrew Thompson, BCIS International Development and Data Director said:

"It is difficult to interpret overseas cost information without understanding the basis on which it has been produced.

Although there are countries with quite complete construction cost related standards and information sources, there appear to be many more countries where the quality of published guidance and cost information falls short of what local professionals might wish. This report will be of great use to construction industry professionals worldwide and at such we are delighted to be able to provide such a service and make it freely available to all."

Notes for editors:

The 40 countries on which information is available are: Australia; Bahamas; Bahrain; Barbados; Bermuda; British Virgin Islands; Canada; Cayman Islands; China (Peoples Republic); China (Hong Kong SAR); Cyprus; Czech Republic; France; Greece; Guyana; Indonesia; Ireland; Italy; Jamaica; Laos; Lebanon; St Kitts & Nevis; Kenya; Malaysia; Mauritius; Morocco; New Zealand; Netherlands; Nigeria; Poland; Portugal (Algarve); Qatar; Russian Federation; Singapore; South Africa; Spain; Switzerland; Thailand; Trinidad & Tobago; United Arab Emirates; USA.

BCIS was involved with the European Council of Construction Economists (CEEC) in preparing the CEEC Code of Measurement for Cost Planning, first published in 2004, which compares elemental cost planning structures for Belgium, Switzerland, Germany, Netherlands, Ireland and the UK. The code was produced to identify different practices in expressing building costs so that costs from different countries could be compared on a consistent basis. This survey sought to identify other elemental cost planning data structures in use around the world.

The full report 2009 BCIS International Cost Elements Enquiry Report is available for free download at http://www.bcis.co.uk/BCIS_International_Cost_Elements_Enquiry_Report .

About BCIS

BCIS (Building Cost Information Service) publishes information on the capital cost of new and refurbished work collected from Chartered Quantity Surveyors and others working in the building industry. BCIS is a trading name of RICS and was established in 1961 to exchange detailed building price information.

About RICS & RICS Asia

RICS (Royal Institution of Chartered Surveyors) is the mark of property professionalism worldwide. It covers all aspects of property, construction and associated environmental issues. RICS has 140,000 members globally and represents, regulates and promotes the work of property professionals throughout 122 countries.

The RICS Asia supports a network of over 11,000 individual professionals across the Asia Pacific region with an objective to help develop the property and construction markets in these countries, by introducing professional standards, best practice and international experience. It promotes RICS and its members as the natural advisors on all property matters. It also ensures that services and career development opportunities are provided to members.

The RICS Asia region covers national associations and local groups locating in Brunei, Malaysia, Singapore, Thailand, The People's Republic of China and the SAR Hong Kong. It also has members working across the region such as Bangladesh, Bhutan, Burma/Myanmar, Cambodia, Indonesia, Japan, Kiribati, Laos PDR, Macao, Mongolia, Nepal, North Korea, South Korea, Taiwan, The Maldives, The Philippines, Timor East and Vietnam. For more information, please visit: http://www.ricsasia.org .

    Media enquiry, please contact:

     RICS Asia Public Relations Representative
     Ms Belinda Chan / Ms May Cheung
     Tel:    +852-2372-0090
     Fax:    +852-2372-0490
     Mobile: +852-9379-3045 / +852-9099-2218
     Email:  belinda@creativegp.com / may@creativegp.com

SOURCE Royal Institution of Chartered Surveyors

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