Sec94A Estimates
Cost Estimating for development proposals
Section 94a contribution is a payment levy (0.5% - 1%) from the total development cost made by developers to local Council (in NSW) as required under Environment Planning & Assessment Regulation 2000. Clause 25J(2) of the EP&A 2000 requires a registered quantity surveyor with the Australian Institute of Quantity Surveyors to prepare a detail cost estimate report. Council will use the payment funds to construct or provide additional public amenities and services to meet the requirements of a new development.
TDQS provides independent cost estimating services with Council approved reports to clients for development and refurbishment construction projects. TDQS will coordinate with your town planners and architects to produce an accurate cost estimate for every unique development design. Modern measurement software are used to ensure all information can be correlated between designers and quantity surveyors to produce an accurate estimate. TDQS adopts P50 and P90 methodology to produce estimates so that clients can better understand the risk and consequences that is associated with the development.
There are two approaches to quantitative risk analysis: deterministic and probabilistic. These approaches are used to cost risk in order to provide a certain level of confidence in the cost outcome.
A P50 level represents the cost of a project with sufficient risk provision to provide a 50% level of confidence in the outcome i.e. there is 50% likelihood that the project cost will not be exceeded. A P90 level represents the project cost with sufficient risk provisions to provide a 90% level of confidence in the outcome i.e. there is 90% likelihood that the project cost will not be exceeded.
Cost Estimating Process
COST ESTIMATE COMPONENTS
