Thursday 24 June 2021

Financial summary and NBS Chorus small works

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)

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.

Figure 2 - The Financial Summary
A second worksheet is also produced with a list of all clauses in the specification. Any of these items can easily be copied across to the main worksheet if costs need broken down at a finer level - for example of plastic and timber windows need priced separately within L10.
Figure 3 - a list of all content

And finally, great to see some positive feedback immediately on social media for this development. The screenshot below shows how Jeremy Foster takes this exported information and copies it straight into his template for managing costs on his small works projects.

Figure 4 - Further manipulation of the spreadsheet in post processing
To read more about NBS for small works please see the links below:

No comments:

Post a Comment