Standard for uniformity in building engineering services price forecast

The objective of this chapter is to investigate the current functions of the parties involved in the procurement and cost management of building engineering services with the aim of examining the approaches used in the forecasting of BES contract price. It is therefore pertinent to consider some relevant questions relating to the study. How is the BES contract price determined? What are the methods adopted by parties in establishing BES contract price? What are the problems with the methods adopted? What can be done to enable parties to adopt uniform pricing methods for elements of BES? In essence, standard for uniformity in the forecasting of BES contract price refers to a generally accepted standard by practitioners that could be used as a basis for predicting the cost of BES in the context of the Malaysian construction industry.