The last decade has seen our country take giant strides in development. Infrastructure and construction industry are integral part of this development process. The 10th Plan envisages a growth of 8% in the GDP. This requires development of infrastucture projects in power, road (highways and rural road connectivity), telecommunications, petroleum exploration and refining, railways, irrigation sectors, etc. at a faster pace. The role of the construction industry in the infrastructure development is well recognised. It is imperative that the performance of these industries should be not only at par with the technological advances, but also match the efficiency of the modern management practice.

Another important factor is the integration of the Indian economy with the global economy, through the processes of liberalisation and globalisation. This has enabled many multinational organisation to participate in the process of development, both directly and in collaboration with local firms. In this context, the need for a level playing field,common and consistent parameters, reliable cost databases cannot be overlooked. The Government's objectives of minimising time and cost overruns, maximising quality and optimising the utilisation of resources can be achieved through standardisation of cost estimation procedures.

In this background, the publication BuildCOST: Building Construction Cost Data (Book + CD), is a welcome step. For an industry, which has largely relied on an unorganised schedule of rates, this would be a giant leap forward. This book has itemised works under 16 divisions, based on the internationally accepted MasterFormat system, which most of the multinationals currently operating in India are familiar with. The 16 divisions cover the entire range of activities in the construction industry, including electrical, mechanical and air-conditioning, amongst others.

This book facilitates easy referencing by the client organisations, architects , consultants and the constructors. It would enable the development of in-house databases by minimising the efforts for every new project or venture. Moreover, the concomitant CD provides enough flexibility to add, wherever required, items which are special in nature or specific to any region. This would be updated on an yearly basis initially, but subsequently on a quarterly basis. This will help cost estimation of construction projects at the prevalent prices

My heartly congratulations to Integrated Project Management Group (IPMG) and Tata McGraw-Hill Publishing Company Limited for publishing BuildCOST, which I believed will prove to be a powerful tool of immense use to the clients, consultants, and the project owners, both in the public and private sectors. This will add a 'new quality dimension' in project management in the country. I hope that the construction industry will, by and large, benefit from this publication

 

 

 Shri. Arun Jaitley
   Union Minister Commerce & Industry
Govt. of India

 

Shri. Bandaru Dattatraya
 Minister of State
Urban Developement
Govt. of India

 

Smt. Sheila Dikshit
Chief Minister
Govt. Of National Territory Of Delhi
Old Secretariat, Delhi- 110054

 

Shri. Tarun Das
Director General
Confederation of Indian Industry

“ Against this backdrop, I am delighted to note that the Integrated Project Management Group (IPMG) and Tata McGraw Hill Publishing Company has launched the BuildCOST - Building Construction Cost Data, which includes the costs of items in the entire gamut of the building construction industry.

I am sure this publication could be of immense help in making estimates & managing the cost of the projects. ”

 

 

Shri. Deepak Parekh
Chairman
Housing Development Finance Corporation