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Interactive Construction Cost Feasibility Study Simulator

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Construction Cost Feasibility Study Simulator
Construction Cost Feasibility Study Simulator (MYR) - Quantity Surveyor Tool Academic Feasibility Study Generator (MYR)

Quantitative Feasibility Study Simulator

Created By: Ir. MD Nursyazwi

An Academic Tool for Preliminary Construction Cost Estimation (MYR)

1. Instructions on How To Use

This simulator provides a first-order approximation of total project cost for property development in the Malaysian market, using industry-standard unit rates (RM/sq meter) for conceptual design stages (AACE Class 5 estimate). To generate the feasibility report, follow these steps:

  1. Input Data: Specify the required project parameters, including Gross Floor Area (GFA), project use, quality, location, and structural system.
  2. Generate Study: Click the 'Calculate & Visualize Study' button.
  3. Review Output: Examine the 'Data Output' table for the calculated Main Construction Cost (MCC), soft costs, and risk-adjusted contingency provision.
  4. Report: Click the 'Generate Report (Print View)' button to get a formatted, printable copy of the study.
  5. Analysis: Utilize the 'Graphs and Charts' and 'Science Explanations' sections for an academic understanding of the cost drivers and risk factors.

2. Data Input Parameters

3. Graphical Simulation (Preliminary Risk Status)

This bar visualizes the calculated risk factor (contingency percentage) relative to the maximum expected risk in preliminary estimation (18%).

Risk Level: 8.0%

4. Data Output (Estimated Project Cost)

Please enter the project parameters and click 'Calculate & Visualize Study' above.

5. Graphs and Charts (Cost Component Allocation)

Visualization of cost allocation showing the proportion of Main Construction Cost (MCC), Soft Costs, and Contingency relative to the Sub-Total.

6. Science Explanations (Methodology and Drivers)

Cost Modelling Methodology:

The cost model employs the m² floor area method (Area Method) which is fundamental to early-stage Quantity Surveying practice. This technique relies on established historical cost data, benchmarked against similar projects in the Malaysian context, to derive a reliable unit rate (RM/sq meter). The formula is simplified as: MCC = GFA x Base Rate x Multipliers.

Key Cost Drivers:

  • Project Type: Directly influences the complexity of MEP (Mechanical, Electrical, and Plumbing) systems, a primary cost driver. For instance, 'Special' projects like hospitals have significantly higher services costs.
  • Quality Standard: Dictates the specification of architectural finishes, resulting in exponential cost increases between 'Basic', 'Standard', and 'High-End' categories.
  • Contingency: This provision is a mathematical representation of project risk, calculated as a percentage of the estimate. It is higher for projects with greater technical complexity or logistical uncertainty (e.g., remote areas or tight urban sites).

7. References (Academic Sources)

The underlying rates and multiplier principles are based on academic research and standard industry practices published by professional bodies, including:

  • Royal Institution of Surveyors Malaysia (RISM) - Cost Data Handbook (Simulated rates).
  • Association for the Advancement of Cost Engineering (AACE International) - Recommended Practice No. 18R-97 (Cost Estimate Classification System).
  • Various published academic studies on construction cost forecasting in Southeast Asia.

8. Other Simulators and Tools

Explore these highly relevant educational and professional tools:

Location: Sandakan, Sabah, Malaysia

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