Cost planning and estimating

Every construction project starts with a budget. The question is whether that budget is grounded in a proper assessment of what the project will actually cost, or whether it is a figure that felt reasonable at the time and has never been properly tested.

Poor cost planning at the early stages of a project is one of the most common causes of scheme failure. Budgets set without rigour get locked in, design develops around them, and the gap between what was assumed and what is actually buildable only becomes clear once the contractor is appointed and the damage is done.

BTG Eddisons provides RICS-regulated cost planning and estimating services that give developers, funders, investors, and occupiers a reliable, evidence-based cost position from the earliest stages of a scheme through to procurement.

Call 0800 051 2593, email [email protected], or complete our contact form further down the page to discuss your project.

Cost planning is the process of developing, tracking, and controlling a construction budget as a scheme moves from initial concept through to contractor appointment. It is not a single document produced once and filed; it is a living process that runs alongside the design, updating as decisions are made and the scheme becomes more defined.

A cost plan gives everyone with a financial interest in a project, such as the developer, the funder, and the investor, a clear, evidenced view of what the scheme costs, what assumptions are embedded in that figure, and where the risks lie. That transparency is what makes it useful.

BTG Eddisons structures its cost planning work to the RICS new rules of measurement, the recognised professional standard for cost advice across the UK construction industry.

What does our cost planning service cover?

Our cost consultants provide cost management support across the full pre-contract lifecycle, from the first number produced at feasibility through to the bills of quantities and tender documentation used to appoint a contractor.

• Order of cost estimates – An NRM1-compliant early-stage assessment giving clients a cost-per-square-metre or elemental figure to test viability before design fees or land purchase are committed.
• Feasibility cost appraisals – A structured elemental breakdown of the scheme tested against comparable projects and current market rates, suitable for planning, funding, or land acquisition decisions.
• Elemental cost plans – Produced and updated through RIBA stages two and three, tracking budget movement against each element of the building as design decisions are made.
• Pre-tender cost plans – Our best current assessment of the scheme's cost at the point of contractor procurement, providing the benchmark against which tender returns are measured.
• Value engineering support – Where the budget is under pressure, we work with the design team to reduce cost without compromising quality or performance, most effectively done early in the design process.

Our cost management work runs alongside the design process, structured to the RIBA plan of work so you always know what cost information is available at each stage and what decisions it supports.

Stage 1 and 2: Feasibility and concept

Order of cost estimates and feasibility cost appraisals establish the budget envelope and test viability before design fees and land costs are committed. This is the most important stage for cost management — decisions made here shape the entire financial structure of the scheme.

Stage 3: Developed design

We produce and update elemental cost plans as the design develops, tracking cost movement against the agreed budget and flagging risks early. Where the design is moving the cost above budget, we identify the specific elements driving the increase and advise on the options available.

Stage 4: Technical design

As the design reaches tender stage, we produce the pre-tender cost plan and, where required, the bills of quantities and tender documentation used to procure the contractor.

Stage 5: Handover to construction

At contractor appointment, we hand over a fully reconciled cost plan that reflects the tendered and agreed contract sum, ready for cost management and reporting through the construction phase.

Who are cost planning services designed for?

Our cost planning and estimating service is used by a wide range of clients across the construction and development sector, including:

• Property developers requiring cost certainty at feasibility, planning, and procurement stages.
• Funders and lenders assessing the financial viability of a scheme before committing development finance.
• Investors appraising acquisition, refurbishment, or repositioning costs before committing capital.
• Public sector bodies and housing associations with capital programme requirements and governance obligations.
• Occupiers commissioning office fit-out, refurbishment, or new build premises.
• Architects and design teams who need a cost consultant to work alongside them from concept through to tender.

• RICS-regulated at firm level, with all cost advice delivered to the RICS new rules of measurement and recognised industry standards.
• Led by Matthew Watson MRICS, Director of Cost Consultancy and Quantity Surveying, with more than 15 years of experience across commercial, residential, and mixed-use schemes.
• Our cost consultants stay with a project from the order of cost estimate through to final account, providing continuity of cost management rather than a series of disconnected reports.
• Combined cost planning and employer's agent capability. Where both services are needed, we deliver them from a single team.
• Over 180 years of commercial property experience, with 550 brilliant people across 35 offices covering every major construction market in the UK.
• Proven track record across commercial, mixed-use, education, and healthcare schemes, evidenced by our case studies and client reviews.

Book an appointment with our cost planners today

Whether you are appraising a new scheme, reviewing a budget under pressure, or preparing for contractor procurement, our cost planning team is ready to help. Call 0800 051 2593, email [email protected], or complete the form below to speak to a member of our team.