Covid-19 Cost Assessment Toolkit Launched by CLC

A METHODOLOGY for assessing and reporting the cost of disruption due to the pandemic has been published by the Construction Leadership Council (CLC).

Construction clients and contractors rely on accurate cost prediction as the basis of business plans, financial contracts, and commercial control.

Contract productivity

The unprecedented nature of the pandemic is affecting the progress and productivity of existing and future contracts, meaning that the information on which estimates are usually based no longer applies.

The Toolkit is a guide to better cost forecasting helping the industry make informed investment decisions on viability, improving robustness of pipeline and driving long term economic growth.

Standard methodology

Commenting on today’s launch, Simon Rawlinson, Chair of the Professional Practice Task Group, which developed the toolkit, said:

“The Cost Assessment Toolkit will help the construction industry manage the impact of Covid-19 on existing and future contracts.

“It establishes a standard methodology to incorporate the cost impacts of the virus into estimates, and provides clarity on exclusions. Through the collection of industry-wide data it allows clients and supply chains to compare their project costs against an aggregated data set.

“By providing the tools to measure, and therefore improve, productivity, the toolkit acts as a guide to ascertain and assess project risks and establish viability for the long term.”