Reporting The Consultant prepare a report on the issues mentioned above including the department’s current OnQ Risk template available at (refer Risk Management Plan, Risk Register, and Risk Grid templates). This report shall be a living document and issues will be discussed and updated at progress meetings when necessary. The final risk assessment will be appended to the Business Case and will form the basis for risk management in the future phases of the project lifecycle. Payment All costs associated with risk analysis and record shall be allowed for in Item No. BC 13 Risk Analysis and Record. Concept Estimate of Cost (Item No. BC 14) The Consultant shall prepare a concept estimate of cost (total project cost) for the Approved Recommended Option, using estimated quantities and historical rates, in accordance with the department’s current Project Cost Estimating Manual. The estimates must consider the following: Preconstruction cost: Concept phase Business Case phase Design Development phase, and Detail Design Construction phase Costs Principals materials and management reserve The requirement for concept estimate of cost to have an accuracy of +/- 20%, and The department’s estimating policy of preparation of unlikely to be exceeded but excessively conservative estimates. The estimate has a low probability (15%) of being exceeded by the actual cost of the project. The estimate shall be presented in accordance with the requirements of the local standard as follows: Project Manager: refer to local standards for example the district's Design Guide Estimate and – Schedule. Calculation of BCR (Item No. BC 15) The Consultant shall calculate the BCR for the recommended option, using the principles defined in the Cost Benefit Analysis Manual (Road Projects) CBA6.
Reporting The Consultant prepare a report on the issues mentioned above including the department’s current OnQ Risk template available at (refer Risk Management Plan, Risk Register, and Risk Grid templates). This report shall be a living document and issues will be discussed and updated at progress meetings when necessary. The final risk assessment will be appended to the Business Case and will form the basis for risk management in the future phases of the project lifecycle. Payment All costs associated with risk analysis and record shall be allowed for in Item No. BC 13 Risk Analysis and Record. Concept Estimate of Cost (Item No. BC 14) The Consultant shall prepare a concept estimate of cost (total project cost) for the Approved Recommended Option, using estimated quantities and historical rates, in accordance with the department’s current Project Cost Estimating Manual. The estimates must consider the following: Preconstruction cost: Concept phase Business Case phase Design Development phase, and Detail Design Construction phase Costs Principals materials and management reserve The requirement for concept estimate of cost to have an accuracy of +/- 20%, and The department’s estimating policy of preparation of unlikely to be exceeded but excessively conservative estimates. The estimate has a low probability (15%) of being exceeded by the actual cost of the project. The estimate shall be presented in accordance with the requirements of the local standard as follows: Project Manager: refer to local standards for example the district's Design Guide – Estimate and Schedule. Calculation of BCR (Item No. BC 15) The Consultant shall calculate the BCR for the recommended option, using the principles defined in the Cost Benefit Analysis Manual (Road Projects) CBA6.
C7522S.docx