Thursday 22 February 2024
Building Cost Information Services in partnership with Scottish Futures Trust have supported the creation of a new Scottish Tender Price Assessment Panel (TPAP). The purpose of the Panel is to provide an estimate of tender price movements in Scotland. The panel is made up of cost consultants from firms involved in multiple construction tenders across the country.
Karl Horton, chief data officer at BCIS, said: “After requests from subscribers to set up a Scottish panel, I’m delighted that we have the first set of results, which will help us to understand the economic factors that are currently affecting tender prices in Scotland.
“While there are issues that are UK-wide, and in some cases global, with the supply of materials, energy prices, and shifting legislation and regulations around safety and decarbonisation of the built environment, there are also factors that are particularly pertinent to projects going out to tender in Scotland.
“We are hugely grateful to the members of the panel, who are sharing their time and experiences with us, and hope that the knowledge and data coming out of the survey and panel discussions will be informative and useful for all of our subscribers who are working on projects in Scotland.”
The formation of the STPAP was welcomed by Scottish Futures Trust. Senior associate director Paul Dodd said: “Inflation continues to provide a significant challenge to industry and clients within Scotland’s construction sector.
“We welcome BCIS’s commitment to organise the Tender Price Assessment Panel for Scotland, that will support greater collaboration, insights and consensus on tender price inflation. The panel’s ability to develop greater insights and knowledge sharing on the factors affecting inflation will support the construction sector to manage the impact of inflation and deliver improved outcomes.”
The December 2023 panel findings can be found here - Movement in tender prices in Scotland | BCIS