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info@tridentbc.com 0800 021 6789
Cost Management

Benchmarking

Benchmarking is the process of collecting and comparing data. Trident captures valuable cost data from completed projects to inform our cost modelling and to continuously improve our forecasting of construction cost for the benefit of our clients. At the inception stage, we use our cost data to establish realistic budgets.

Benchmarking can be applied to a whole project or to particularly elements to:

  • Inform cost modelling during the early stages of a project
  • Determine whether the cost is affordable for the client
  • Identify ‘abnormal’ cost items
  • Establish cost targets during design development
  • Identify value engineering opportunities
  • Confirm that building elements fall within expected cost parameters
  • Demonstrate value for money.

We use benchmarking to provide our clients with evidence of actual costs and inform decision making during the deign process to evaluate alternative design solutions and procurement methodologies. We aim to deliver efficiencies to continuously improve performance upon previous projects.
We advocate the use of Key Performance Indicators (KPIs) during the construction stage to monitor and improve performance throughout the project.

Want to discuss a new project?

Terry Cook is the service lead in this area. To discuss a new project, contact Terry on 020 7280 8188 or terry.cook@tridentbc.com.

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