What is BPI?
BPI stands for Building Price Index. It is a numerical index relative to a base of 100 that reflects fluctuations in building prices and market conditions from a given base date to any other date. A BPI is used in databases and cost planning in order to adjust any price at a particular date to be equivalent with prices at a different date. It is typically used by program managers and funding authorities as well as quantity surveyors.
BPI can be defined as a radical redesign of business processes to dramatically improve an organization’s ability to meet increased performance measures to include cost, quality, timeliness, and service. BPI should challenge the assumptions inherent in the work processes existing since the advent of computers and communication technology. Process redesign should also be accomplished independent of technology discussions.
