With Beijing's successful Olympic bid and China's entry into WTO, the development, construction and operation of China real estate projects have ushered in a period of rapid development, which has brought new development opportunities to the majority of real estate developers. However, opportunities, challenges and risks coexist. How to seize the opportunity, reasonably avoid risks and obtain better investment benefits is a subject worthy of study by real estate developers.
The development and construction procedures of real estate projects are complex and have their distinctive characteristics. The whole process of real estate project development can usually be divided into several stages, such as project decision-making, design, bidding and contracting, construction and completion acceptance. The first stage consists of a series of specific activities. At the same time, in the field of project cost management, corresponding investment estimation, design budget, construction drawing budget, contract price, construction settlement and completion settlement can be derived, which is a gradual process from virtual to real and from coarse to fine. In the process of real estate project development and construction, due to the limitation of scientific and technological conditions and subjective understanding, as well as the development and performance of objective processes, such as project geological conditions, construction conditions, market rules and so on. Unforeseen events will happen at any time, and with the diversity of its cost composition, its cost is uncertain, which objectively brings certain difficulties to cost management. In addition, real estate developers generally lack subjective understanding, fail to realize that cost management is a systematic project, fail to follow its inherent laws, and unilaterally overemphasize or attach importance to a certain aspect of cost management (mainly staying in pre-settlement management). Under the guidance of systems engineering theory and with the construction procedure of real estate project development as the main line, this paper comprehensively and systematically discusses the project cost management of real estate project development, and establishes a brand-new concept of project cost management optimization, with a view to providing some reference for the majority of real estate developers.
2. Optimize the cost management in the decision-making stage.
At present, the real estate market has changed from the traditional "production determines consumption" to "consumption determines production". As a special commodity, real estate products are no longer a non-selective business, and consumers have great choices. In order to obtain good investment benefits, the projects developed by developers must be products that consumers can afford, with good environmental quality, functional quality and service quality. Feasibility study report is the scientific basis for project investment decision. When compiling and approving the feasibility study report, real estate developers must adhere to the principle of seeking truth from facts (social and professional consulting companies can be entrusted), and pay special attention to the planning of real estate development projects (including the analysis and selection of project site selection, development content and scale, development opportunity, development cooperation mode, project financing mode and capital structure, and real estate product management mode). From the perspective of cost management, it is necessary to prepare and approve investment estimates.
The total investment of real estate projects includes development and construction investment and operating funds. Investment in development and construction (i.e. project cost) refers to various expenses needed to complete the development and construction of real estate products during the development period, mainly including: land cost, prophase project cost, infrastructure construction cost, construction and installation project cost, supporting facilities construction cost, indirect development cost, financial cost, management cost, sales cost, taxes and fees during the development period, other expenses and unforeseen customs fees [65438+] According to the provisions of the relevant national financial accounting system, Therefore, to a certain extent, only by controlling the cost can the development benefit be guaranteed and be invincible in the fierce market competition. The preparation of investment estimate should be based on the above-mentioned cost composition, and after the preparation, it should be adjusted according to the expected sales price and income level of market research, and vice versa.
At this stage, the category and scale of the project have been basically determined, but the specific design has not yet been carried out. In the planning, there are only hints and requirements for the total construction area, architectural decoration level and plane layout of the project. Therefore, the investment estimation in the decision-making stage is relatively rough and the error is relatively large (10% ~ 25%), which can be used as a reference for developers to make decisions. If the estimated cost exceeds the total amount of funds to be invested by the developer, the developer should consider adjusting the scale or standard until the developer has an ideal amount in mind. The investment estimate should mainly refer to the description of similar projects and be compiled in combination with the construction site and traffic conditions of new projects. As the target limit of future project cost control, investment estimation at this stage should not be exceeded in principle.
3. Optimize the cost management in the design stage.
Cost control in design stage is one of the keys of project cost management. Data research shows that in the preliminary design stage, technical design stage and construction drawing design stage, the possibility of affecting the project cost is 75% ~ 95%, 35% ~ 75% and 25% ~ 35% respectively, while it is only 65,438+00% in the construction stage [2]. From this point of view, the key to control the project cost lies in the design stage. Because the construction stage is "construction according to the drawing", the cost control in the construction stage is not to control the project cost, but to control the new project cost that may increase in the construction, because the investment (cost) decision of the project has been determined in the design stage. Putting the key of project cost management in the design stage and taking precautions can achieve twice the result with half the effort.
Design bidding, quota design and design supervision are effective means to control the project cost in the design stage. In the implementation of design bidding, we can choose the design scheme from many aspects, but it should be noted that the quotation of design fee can only be used as a factor in selecting the design unit, and more attention should be paid to examining its qualification level and engineering performance. Through design bidding competition, it is of great significance to improve design quality, minimize design changes, shorten design cycle, improve the accuracy of design budget and construction drawing budget, and prevent "three overruns" (budget exceeds budget, budget exceeds budget, and settlement exceeds budget). Limit design runs through the whole process of project design, from investment decision-making to setting target limit according to investment estimation, to determining the maximum limit through budget estimation in preliminary design, until the construction drawing design stage of project implementation focuses on controlling engineering quantity, so as to make rational use of manpower, material resources and financial resources, improve the use value of funds and further improve investment efficiency. In the preliminary design stage, the focus of quota design is the control of engineering quantity, equipment and materials, while the focus of construction drawing design stage is the control of engineering quantity. Quota design investment quota is generally based on the estimated cost of investment in feasibility study, which is divided into 80% ~ 90% of the direct cost of the project, and adjusted by 10% ~ 20%. In order to use the design quota reasonably, the dynamic management of design quota should be implemented, and each major should draw a "actual design quota" from the quota design of investment allocation. The formula for calculating the actual design limit by using the discount method is:
Actual design limit = investment allocation design limit (1+i)n
Among them:
I—— the rising index of project cost announced by relevant departments (%);
N refers to the construction period (year).
Therefore, the budgetary estimate should not only reflect the design and calculation of the project cost, but also actively influence and optimize the design, so as to control the project cost and promote the rational use of funds. Therefore, it is an important link of project cost management to do a good job of technical and economic analysis in the engineering design stage. Cost engineers actively cooperate with designers and use scientific theories and methods to make qualitative and quantitative analysis and evaluation on issues to be decided (such as scheme design, equipment modeling, construction standards, etc.). ), and calculate the most reasonable project cost under the premise of meeting the product function or use function required by the developer.
If developers are weak in planning and design, they can consider entrusting supervision engineers to engage in design supervision to ensure first-class design, improve design quality and reduce construction investment. If only the strength of cost control is weak, we can entrust the cost control work to a socialized and specialized engineering cost firm, and let the cost engineer engage in the cost control work in the design stage, that is, the budget control work. In the design stage, for some special unforeseen circumstances, such as geology, rising labor, materials and equipment prices, natural disasters, etc. "Unforeseen expenses" or "risk expenses" should be reserved when budgeting. The forecast of unforeseeable cost requires cost engineers to have certain professional knowledge, rich experience and judgment ability, and to cooperate closely with designers to complete it.
4. Optimize the cost management in the bidding and contracting stage.
Practice has proved that introducing market mechanism, implementing project bidding and promoting fair, just and open competition are effective measures to reduce project cost, shorten construction period and ensure project quality. At the same time, it is also an effective means to realize the survival of the fittest, choose the ideal contractor as a partner and put an end to corruption in the contracting field.
China has successfully joined the WTO, and will learn from international practices to reform the traditional pricing model, that is, the pricing model of market economy. The pricing model of market economy is to formulate unified engineering quantity calculation rules nationwide and give the consumption standards of each project under unified project division. When inviting tenders, the tenderee provides BOQ, and each tendering unit (contractor) makes an independent bid according to its own strength and competitive strategy, and the owner selects the best bid (usually the reasonable lowest bid), so as to legalize the bid and the project contract. If there is any inconsistency with the bidding documents or contract provisions or the engineering quantity changes during the construction process, this mode is an international practice and has been implemented in some places in China. This paper will discuss the cost management in the contract stage according to this pricing model.
In the stage of project bidding and contracting, the cost engineer first prepares the budget of contract documents and the budget before bidding (the accuracy should be within 5%). According to the engineering quantity calculation rules, calculate the engineering quantity of each part, and prepare the bill of quantities and machines for the contractor to bid. In addition to providing the bill of quantities, the tender documents should also specify the rights and responsibilities of both parties to the contract, list all foreseeable situations in detail and give solutions. At the same time, the tender documents also require the contractor to list unforeseen expenses and risk expenses in the quotation, so as to cope with unforeseen circumstances in the construction and avoid project cost overruns. Developers should pay attention to the fact that the bill of quantities quotation has great risks and opportunities for both parties to the contract. In order to obtain better economic benefits, contractors often adopt many strategies when quoting, and successful strategies mean that developers have to pay more. Therefore, the developer should urge the cost engineer to predict the bidder's quotation strategy according to the specific situation of the project and the intensity of bidding competition, and take some corresponding strategies and measures, such as drawing up some restrictive clauses in the bidding documents. When opening bids, there should be representatives from all sides, such as developers, designers, engineers and cost engineers. , to prevent unfairness. We should carefully examine and analyze all kinds of tenders, but generally pay attention to several tenders with lower quotations. After evaluation and analysis, engineers, designers and cost engineers recommend the most suitable bid winner to the developer, usually the lowest bid winner (except those below the cost). When signing a contract, developers should pay special attention, because once a contract is signed, both parties must strictly abide by all the terms in the contract. We should be more careful about the terms in the contract to prevent unnecessary mistakes.
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