Table of ContentsProduction Cost Analysis and ControlIntroductionSource of Cost DataApplications of Cost Data Civil EngineeringValidation of Estimation in control of cost dataRough initial estimate for decision makingDetailed and accurate estimation of CostsRecommendations for RICS and BCIS cost estimatesAdvantages and disadvantages of BCISAdvantagesCommon deficienciesConclusionAnalysis and control of production costsIntroductionThe cost incurred by the company is the cost of production which is a combination of labor, raw materials and other additional expenses. Costs provide an overview of total construction expenses (Jstor, 2015 p. 436). Cost planning techniques are influenced by a reasonable factor which is the control exercised during construction by the architect. As the basis for the analysis and control of production costs, cost data is useful for supplementing areas, volumes, figures and others. Cost control manages to limit a customer's spending to a particular agreed amount. It is generally quite difficult to convince financiers of the cost of a project. Important facets of management include identifying cost data sources and estimating costs through the use of BCIS and RICS. Say no to plagiarism. Get a Custom Essay on “Why Violent Video Games Should Not Be Banned”?Get the original essayCost Data SourceSubcontractors/Contractors: When calculating or estimating construction costs, estimators s 'rely on subcontractors/contractors to provide quotes and services necessary to complete the estimate and the project itself. The sources of information provided by the contractor's estimators ensure that cost estimates are realistic and achievable. The challenge of data obtained from these is quality or reliability. Internal Data Sources: This is information related to the company's financial statements that helps construction management determine production costs in the construction project life cycle. Price Books: Price books are used to estimate the cost of a construction project. In civil engineering, price catalogs provide the most accurate data in the construction industry, such as SPON price catalogs and BCIS price catalogs. It provides a clear understanding of how the market values ​​outputs in relation to the revenue they bring to the business and is affected by decisions made in accounting regarding depreciation and certain other variables (Ashworth, 1994 np). Rate Database: This is a database that is computerized for use in estimating information that is often used with construction estimating software when forming cost estimates. This is an electronic equivalent of the cost book which can relate to maintenance costs, operating costs, etc. Obtaining information from internal and external specialists is also useful when attempting to gather construction cost data. (Ashworth, 1994 np). Cost data can also be obtained from properly published publications and national and local institutional sources. Alternatives applicable to the relevant area should be considered in a situation where cost management consists of isolation of required materials and individual planning of construction methods and budget. Sources of cost datavary from country to country, for example; Bulk acquisition costs are considered very crucial sources of cost data in the United States of America (BCIS, nd).Applications of Cost Data Civil EngineeringThe Building Cost Information Service has of an application for civil engineering cost analysis. The preparation of the cost analysis is based on general principles, definitions, common elements and published instructions (BCIS, nd). Cost data also estimates the future cost of a project and controls its design to ensure sustainable cost control. The cost of using information is balanced to ensure that money is spent according to set priorities. The information is useful for negotiating rates with particular specialists in order to accelerate the development of a project. (Kirkham et al. 2007 np). These activities give rise to other uses which may be of concern in certain crucial sections of the quantity surveyor for research. Applications concern understanding economic and political trends and the relationship between decisions made during design and the extent to which their effects change cost. The analysis, classification and structuring of large amounts of data contribute in one way or another to the development of evaluation models. Data calculations require that quantities of work be measured at times of work that can be suspended. Record sheets are typically copied as comments to the estimating department, and this can be used in future projects to inform estimates. (Ashworth, 1994 np). Estimation carried out using traditional methods develops a classification system in relation to cost recording. The results of these types of projects can provide an important source of data to use for estimates. Production standards, both for the company and for the workforce, influence the range of characteristics of a project. Estimators are expected to equate different factors when adopting a standard result in order to obtain a good estimate. These characteristics include resources used, specific job skill requirements, location and accessibility, design and labor standards. (Beamon, 1998 p. 290). The uses of data are categorized into four: cost forecasting, cost comparison, cost balancing, and cost trend analysis. Forecasting simplifies the problems encountered to prevent the user from being overwhelmed by too much data. Involves the concentration of significant quantities and expenditure items on those which have the least importance in terms of cost. Cost comparison involves choosing data that is structured and in a form such that if the specification or design of an item is changed, the use of the cost data will reflect the change in the cost of the product. Cost balancing refers to the overall cost of smaller units that are used for control purposes and allows for a cost strategy for design development. Cost trend analysis is a view of how the costs of different products change from one time to another or in relation to each other. Estimate Validation in Cost Data Control Estimate confirmation is a crucial phase where the cost of estimates is cross-checked. against the office per square meter. Estimate validation improves the accuracy of cost data, thereby maximizing profits. It is necessary that the right tools are put in place during validation. Additionally, the ability to perform.