Cost benchmarking principles and expectations
Principles and expectations relating to departmental cost benchmarking practice and approaches to construction related cost benchmarking.
This document sets out the expectations in terms of departmental cost benchmarking practice and how maintaining standards in this area helps to reduce costs by informing procurement decisions and increasing the ability of departments to compare data.
Moving forward, these principles will be used as the basis for developing consistent departmental approaches to construction related cost benchmarking, some of which are already relatively mature. Application of these principles enables departments to publish their cost benchmark data and supports the new procurement models being trialled as part of the delivery of the Government Construction Strategy. The published data provides a standard average cost for projects that the public sector will be able to use to negotiate better prices.