Cost estimating is the process of predicting the cost of a construction based on limited information, usually carried out between stages 1-2 of RIBA design. Cost planning is the process of developing a detailed plan for the costs of a construction project, and is usually undertaken during stages 3-4 of the RIBA design process.

How can benchmarking previous construction projects offer insight into future projects, allowing us to create more accurate cost estimates and better value for clients?

There is no one perfect pricing method for quantity surveyors, and the best approach is likely to involve a combination of different methods. Construction project benchmarking can be a valuable tool, but it is important to understand the limitations of the process before using it.