All Costs Under Control: Aspern Vienna’s Urban Lakeside

Project name: Wien 3420 Aspern Development | Industry: Residential & CommercialLocation: Aspern, Austria

Aspern Vienna’s Urban Lakeside is one of the largest urban development projects in Europe. The site is located on the former airfield at Aspern – the predecessor of the current international airport, Vienna Schwechat. The planners envisage a mixed residential and business development on approximately 240 hectares, to be completed by 2028. The project will consist of 20,000 workplaces and house 20,000 residents in 8,500 apartments. A large park with a 5-hectare lake will be located in the center of the area.

Challenges

  • Microsoft Excel, the predecessor system, involves manual processes with risk of erroneous data entries and faulty calculations.
  • Time-related adjustments as well as architectural changes (e.g. residential or commercial use) potentially impact the schedule and budget.
  • Different cost factors are associated with different types of development and use.
  • All costs must be allocated to individual development areas according to their source.
 

Solutions

  • Complete overview of all project costs to provide developer control and avoid misspending.
  • Application of costs by source to individual development areas in view of their complexity.
  • Insight into the real costs incurred by each building unit for expense reduction.
  • A comprehensive, continuously updated cost structure to control cost escalation in a project of this scale.
 

Results

  • Optimization of financial procedures through the application of cost by source to individual development areas.
  • Minimization of expenses through a better overview of costs and the ability to take corrective action earlier. 
  • Improved planning and budgeting security. 
  • A secure basis for planning and building decisions focused on the real costs of each building unit.

 

*Conject, which delivered this project, was acquired by Aconex in April 2016.

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