HOW TO ANALYZE THE COST OF PRECAST?
The cost of precast components is the aggregate of:
- Production Cost
- Transportation Cost
- Installation Cost
Production cost for precast components depends on the type, size and quantity of the precast components. Transportation cost does not only depend on the distance between the site and the precast yard but also on the types and sizes of the components. For production of precast components on-site, transportation cost is avoided, although there are additional costs for setting up temporary site facilities. Installation cost depends on the size and weight of the components besides jointing details. The size and weight of precast components will also determine the capacity of crane required. As a rule of thumb, the three different types of cost arising from supply, delivery and installation of precast components are:
- Production Cost – 78% to 83%
- Transportation Cost – 2% to 3%
- Installation Cost – 15% to 20%
Generally, the unit cost of the equivalent in-situ components tends to be slightly cheaper than precast components. However, taking into considerations the shorter construction period and other reduced site expenses, the cost of precast components can be competitive. With careful planning and proper detailing of the precast components, precast construction can be as cost effective as in-situ construction.