Budget

The tender response for designing, constructing and operating the existing building and the additional extension shall include the project budget’s bid documentation. The budget must incorporate the total amount of financial resources needed for the project’s delivery and operation phase, not only the design and construction but also the maintenance and prospected repairs or asset. Project budget management aims to estimate and control project costs within the approved cost and achieve the project’s defined objectives.

During the design phase of the Office Extension, the team should consider the use of technology and materials taking  into account budget costs associated with capital expenditures (CAPEX) and long term operational expenditures (OPEX) ^[1]

[1]      M. Kojic, “Project cost management: everything you need to know ,” May 24, 2019. https://clockify.me/blog/business/project-cost-management/ (accessed Jan. 16, 2021).