3 The conversion factor from MIPS (1975 = 100) to PUBSEC (1995 = 100) is i.e. 480 divided by = BIS PUBSEC 173.
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1 Tel No Date 23rd September 2011 Address to. St Chads Court 213 Hagley Road Edgbaston Birmingham B16 9RG Tel: For the attention of all NHS Capital Planning Colleagues Dear Colleagues Sent by Kerry Ward Newsletter 11 / 3 Newsletter 11 / 2 previously reported the transitionary arrangements for capital reporting following the demise of Quarterly Briefing (QB) 19/2. Newsletter 11/3 provides the latest cost data which will inform users of: the most up to date reporting allowance levels, location factors and projections for inflation. Attention is drawn to the following points: 1 Data within QB 19/2 and Newsletter 11/2 cannot further be relied upon for future capital planning developments because this is now superseded by data within this newsletter. 2 The previously used MIPS data will no longer be used, and Department of Business Innovation and Skills (BIS) PUBSEC indices will be used in lieu. Note this is the Tender Price Index for Non-Housing. 3 The conversion factor from MIPS (1975 = 100) to PUBSEC (1995 = 100) is i.e. 480 divided by = BIS PUBSEC The recommended BIS PUBSEC reporting level for both firm priced and variation of price schemes remains at 173. This is effective from the 1 st June Future variations to this will be notified through the newsletter and on the Space for Health website. The newsletter will be issued quarterly and will next be available in December New schemes that are submitted for approval at SOC or OBC stages should be reported at BIS PUBSEC 173; while schemes that have been previously reported using MIPS should at the next submission be reported at BIS PUBSEC equivalent reporting levels. 6 Consultant quantity surveyors are expected to subscribe to BIS Construction Price and Cost Indices Online to gain access to the full data. 7 Data for the Geographical Location Factors will, in future, be based on the BIS PUBSEC Location Studies available through BCIS. 8 Advice is offered in Appendix D regarding selecting the most suitable Equipment
2 index according to the individual scheme content. 9 To ensure the relevance of the PUBSEC index to the health service, relevant contract documents such as Bills of Quantities or other tender data for new projects should be sent to BCIS for indexing. Details are given in Appendix B. If there are any queries regarding the content of the newsletter, please contact the writer. Yours sincerely Kerry Ward Strategic Estates Advisor SHA Estates - Midlands Appendices: A Abbreviations B PUBSEC BIS Tender Price Indices C BIS Location Factors D Equipment indices E Historical record of Cost Allowance index levels F MIPS / PUBSEC BIS Tender Price levels comparison G Focus group
3 APPENDIX A ABBREVIATIONS APSAB (superseded by NOCOS) which is the average PSA Building Cost Index (superseded by Non- Housing Cost Index) this is a single index representing the movement of the relevant Formula Variation of Price Indices weighted together for Building Non-Housing. BIS The Department for Business, Innovation and Skills. This is the Construction Market Intelligence Unit of BIS that is responsible for the Public Sector Price and Cost Indices. BCIS Building Cost Information Service which is a part of the Royal Institution of Chartered Surveyors. BCIS are contracted to BIS to produce and publish the Public Sector Price and Cost Indices. BIS Construction Price and Cost Indices Online online service providing the official publication of PUBSEC the location factors together with all other BIS construction indices. Note: the service is operated through BCIS Online, see BCIS for full details. BCIS Online - the web portal through which all the BCIS and BIS indices are published. There are various subscription options to the different parts of this service. CIM Capital Investment Manual FORVOP Forecasted Variation of Price Index. This is a projection of the APSAB (NOCOS) Index over the next eight years. FP Firm Price MIPS Median Index of Public Sector Tender Prices PUBSEC Tender Price Index of Public Sector Building Non-Housing based at 1995 =100. This should not be confused with, and is not necessarily the same as, the BCIS Public Sector TPI. VOP Variation of Price
4 APPENDIX B - PUBSEC BIS Tender Price Indices Series: Notes: BIS PUBSEC Tender Price Index of Public Sector Building Non-Housing Indices are only published where the sample size is at least 4 Last updated: 12th September 2011 Base: 1995 = 100 Date Index Status Sample On Year % On Quarter 1Q Firm % 0.00% 2Q Firm % 2.60% 3Q Firm % 3.40% 4Q Firm % 2.50% 1Q Firm % 1.60% 2Q Firm % 2.40% 3Q Firm % 2.30% 4Q Firm % 0.80% 1Q Firm % 0.80% 2Q Firm % 0.00% 3Q Firm % 1.50% 4Q Firm % 2.90% 1Q Firm % 2.90% 2Q Firm % 0.70% 3Q Firm % 0.00% 4Q Firm % 1.40% 1Q Firm % 2.00% 2Q Firm % 2.70% 3Q Firm % 2.60% 4Q Firm % 1.90% 1Q Firm % 1.20% 2Q Firm % 1.80% 3Q Firm % 1.20% 4Q Firm % -1.20% 1Q Firm % -0.60% 2Q Firm % 1.80% 3Q Firm % 3.00% 4Q Firm % 1.20% 1Q Firm % 2.30% 2Q Firm % 3.40% 3Q Firm % 2.70%
5 Date Index Status Sample On Year % On Quarter 4Q Firm % 2.10% 1Q Firm % -1.00% 2Q Firm % -0.50% 3Q Firm % 0.50% 4Q Firm % -1.00% 1Q Firm % -5.80% 2Q Firm % -3.90% 3Q Firm % -1.20% 4Q Firm % -2.90% 1Q Firm % -1.20% 2Q Firm % 3.10% 3Q Firm % 1.80% 4Q Provisional % 1.20% 1Q Provisional % 1.20% 2Q Provisional % 1.10% 3Q Forecast 4.10% 0.60% 4Q Forecast 3.50% 0.60% 1Q Forecast 3.40% 1.10% 2Q Forecast 2.80% 0.60% 3Q Forecast 2.80% 0.50% 4Q Forecast 3.40% 1.10% 1Q Forecast 3.30% 1.10% 2Q Forecast 2.70% 0.00% N.B. All new schemes must report the costs using the new BIS PUBSEC reporting index currently stated as 173. Schemes in the capital planning process and which are due for submission at the next stage, should also report the costs at BIS PUBSEC reporting level 173. Definitions BIS Tender Price Index of Public Sector Building Introduction The PUBSEC Tender Price Index measures the movement of prices in accepted contracts for building projects in the public sector in Great Britain. It includes contracts let in competition and by negotiation including framework contracts. It does not include contracts for housing work, work of a mainly civil engineering nature, mechanical and electrical work or repair and maintenance work. The BIS Tender Price Index of Public Sector Building is an 'All-In' index including both fixed price and variation of price projects in its compilation. However, since 1990, there have been very few variation of price projects in the sample. The index is based on the rates for measured work contained in pricing documents (Contact Sum Analyses, Target Costs, Bills of Quantities) for accepted contracts within the Public Sector, excluding housing, civil engineering, mechanical engineering, electrical engineering, minor alterations work, and repair and maintenance work projects.
6 Participating departments include the Departments of Education, the Home Office, the Ministry of Defence, the Department for Environment, Food and Rural Affairs, Ministry of Justice, Scottish Government and various Local Authorities in England, Scotland and Wales. After the latest provisional index, indicative indices for the next eight quarters are available. These indicative indices are based on the BCIS forecast of tender prices. Full details of the forecast are available from BCIS. Provision of Information BCIS calculates these indices on behalf of BIS. The calculation of the PUBSEC Tender Price Indices depends on BCIS receiving information on projects let. Would all users of the indices who are responsible for letting new build works in the public sector, falling within the definition given in the notes on the PUBSEC Tender Price Index above, ensure that pricing documents (Contact Sum Analyses, Target Costs, Bills of Quantities) and other tender information are submitted to BCIS for indexing. See contact below. NHS Tender Price Indexing The Capital Investment Manual (CIM) requires tenders to be indexed. The PUBSEC index relies on a statistically sound sample of public sector tenders being indexed by BIS. The Department of Health has a long standing agreement with BIS to carry out the indexation of tenders for healthcare schemes. Over recent years, BIS have reported a considerable drop in the number of healthcare schemes submitted to them for indexing. This may have been due to changes in procurement methods and the continuing re-organisation of NHS bodies. The indexing method compares rates for work in a new project with a base schedule. Whichever procurement methodology may have been followed, a buildup of costs using even basic quantities (builder s quantities) should exist to establish robustness and affordability of the scheme. BCIS collect the data and calculate the PUBSEC Tender Price Index on behalf of BIS. Therefore, in order to increase the number of healthcare schemes submitted for indexing, all NHS bodies are requested to submit all forms of suitable cost material at the tender let stage to BCIS at the address below. Please note that all information submitted will be treated in strict confidence, will only be used to generate the indices, and will be returned promptly once indexation has taken place. For further details or to submit suitable cost data please contact: Lindsay Pullen BCIS Parliament Square London SW1p 3AD lpullen@bcis.co.uk tel
7 APPENDIX C BIS PUBSEC Location Factors REGION LOCATION FACTOR NORTH.93 MIDLANDS.94 SOUTH WEST 1.04 SOUTH EAST 1.09 EAST.99 LONDON 1.11 WALES.87 Definitions Location Study of PUBSEC Indices The Location Study is an analysis of all the projects sampled in the most recent 12 quarters and included in the PUBSEC Tender Price Index. The study standardises all indices and sorts them into eight predetermined locations, each given a code. The Location Factors are derived from the Location Study from 1980 with the sample sizes from which they are derived. These factors may be applied to the PUBSEC Index to determine an index adjusted for locality. Further details of the Location Factors are available on the BIS Price and Cost Indices Online.
8 APPENDIX D Equipment Indices The Equipment Price Index (EPI) was last published in Quarterly Briefing Issue 16/4, Spring 2008 and projections of that index are considered to be unreliable. The CPI Index has been looked at as a possible alternative. However, most of the weightings within the composition of items are not relevant to the cost of NHS equipment and typical hospital schemes may only account for 5% of the total goods within the CPI index. The Cost Advisor must be aware that each project will have a unique mixture of equipment and the accuracy of any adjustment will depend on how close that unique mixture is to the standard weighting. In summary of this short study, the Cost Advisor is offered the opportunity to use the most appropriate equipment index relevant to the individual mix of equipment components within the scheme. If the Cost Advisor does this, he should also be wary of exchange rates and when dealing with imported equipment, the variable levels of the Pound, Euro and Dollar may be more significant than cost indices. The following websites may be of interest to the Cost Advisor when selecting a relevant equipment index: CPI indices can be found at website Additionally the following may be of interest: = the bulletin = the tables = individual indices = durable goods = time series data
9 APPENDIX E Historical Record of Cost Allowance Index Levels Year MIPS index levels VOP FP PUBSEC BIS FP Notified in Date of issue Effective from Letter from the Executive Director of Dec 00 14/12/00 Policy and Performance NHS Estates Letter from the Chief Executive June 02 01/07/02 NHS Estates Letter from the Chief Executive Oct 03 01/10/03 NHS Estates Letter from the Chief Executive Nov 04 01/11/04 NHS Estates Quarterly Briefing Vol. 14 Number 4 Nov 05 01/11/ Letter from Rob Smith July 07 01/08/ Letter from Rob Smith June 08 01/06/ Letter from Rob Smith March 10 01/03/ Letter from WMSHA June 11 01/03/10
10 APPENDIX F MIPS / PUBSEC BIS Tender Price Levels Comparison MIPS TPI and BIS PUBSEC TPI Comparison Table Using MIPS Published in QB 19/2 Winter 2011 MIPS TPI QTR Firm Price Tenders firm price Reporting Level comm date VOP QB BIS PUBSEC TPI Firm Price Tenders - at conversion Equivalent Reporting Level using conversion factor firm price 2003 Q May Q Aug Q Nov Q Mar Q Jun Q Sep Q no QB Q Mar Q Jun Q3 467 no QB 168 Q Dec Q Mar Q2 467 no QB 168 Q Summer Q4 486 no QB Q Winter 2006/ Q Spring Q Summer Q Autumn Q Winter 07/ Q Spring Q Summer Q Autumn Q Winter 08/ Q Spring Q Summer Q Autumn Provisional 2010 Q no QB Q Spring Q Summer Forecasts Q Autumn Q Winter 2010/ Q N/A Q Q VOP
11 APPENDIX G Focus Group The following members endorsed the alternative means of communicating the new indexation methods: 1. Kerry Ward, Strategic Estates Advisor, West Midlands Strategic Health Authority, 2. Robert Nettleton, Strategic Estates Advisor, East Midlands Strategic Health Authority, 3. Phil Smith, Strategic Estates Advisor, London SHA, 4. Nigel Dorman, P21 Implementation Advisor, Department of Health, 5. John Cooper, Quantity Surveyor, Holbrow Brookes, Birmingham, 6. Frank Wintle, Quantity Surveyor, Gleeds Quantity Surveyors, Bristol, 7. Gwilym Jones, Welsh Health Estates, 8. David Meatyard, Welsh Health Estates, 9. Joe Martin, BCIS Executive Director, 10. Bob Packham, BCIS (Consultant). The Focus Group will be retained for future reference and discussions.
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