ICMS Cost definitions

Cost categories

Costs are categorised into four levels as follows:

• level 1: project or subproject
• level 2: cost categories
• level 3: cost groups
• level 4: cost sub-groups

Construction Costs

Level 2 costs are frequently used to define the cost categorisation of a project based on these definitions:

• Acquisition costs
• Construction costs
• Renewal costs
• Operation costs
• Maintenance costs
• End of life costs

Construction Costs costs include:

• Demolition, site preparation and formation
• Substructure
• Structure
• Architectural works | non-structural works
• Services and equipment
• Surface and underground drainage
• External and ancillary works
• Preliminaries | Constructor’s site overheads | general requirements
• Risk Allowances
• Taxes and Levies
• Work and utilities off-site
• Post-completion furniture, furnishing and equipment
• Construction-related consultants and supervision