Covid-19 cost assessment toolkit

Summary

The professional practice task group of the Construction Leadership Council (CLC) Covid-19 task force has published a methodology for assessing and reporting the cost implications of disruption due to the pandemic, with the launch of a Covid-19 Cost Assessment Toolkit.

Construction clients and contractors rely on accurate cost prediction as the basis of business plans, financial contracts and commercial control. The unprecedented nature of the pandemic is affecting the progress and productivity of existing and future contracts, meaning that the information upon which estimates are usually prepared no longer applies.

The toolkit acts as a guide to enable better cost forecasting to assist the industry in making informed investment decisions on viability, improving robustness of pipeline and driving long-term economic growth.