Switch from MIPS to PUBSEC
order to achieve essential indexing of capital works, the PUBSEC index, as published by BIS through the Building Cost Information Service (BCIS) of the RICS, has been identified as a suitable replacement. The attached Newsletter 11/3, issued by SHA Estates (Midlands), stipulates that SHA's requirements in relation to use of the PUBSEC index; the requirements of other approving bodies should be identified and confirmed as necessary.
It must be noted that both the NHS Procure21 and the NHS ProCure21+ framework require all mandatory Elemental Cost Analyses to be indexed and reported to the central P21+ team using the PUBSEC index instead of the MIPS index."
The PUBSEC index is used in the same way as the defunct MIPS index. The conversion factor from MIPS (1975=100) is 2.778 (ie MIPS divided by 2.778 equals PUBSEC and PUBSEC multiplied by 2.778 = MIPS).
11 November 2011