1.44 The projected level of Capital Expenditure required to complete a project is increased annually by the CapEx Escalator for the years in which Capital Expenditure is incurred. A number of Departments already have in place their own tailor-made CapEx Escalators (for example, MIPs is used for construction projects by the Department of Health). Where available, these indices should be used to determine the CapEx Escalator for relevant projects.
1.45 In the absence of Departmental indices, Procuring Authorities should determine an appropriate index to apply to Capital Expenditure. A large number of indices are available and perhaps one of the best known is the Buildings Costs Indexation Service ("BCIS"), compiled by the Royal Institute of Chartered Surveyors ("RICS"). Information on the BCIS can be found at www.bcis.co.uk. When using escalators Procuring Authorities should be careful to choose an index that is appropriate to the particular project being assessed. BCIS's All-in Tender Price Index is, for example, just one of a number of indices maintained by the RICS and itself is broken down further on a sector-by-sector basis.