Estimation and Costing
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ESTIMATION
Estimation is a tool for planning and controlling the
construction activity of any project with respect to
quality, time and finance.
WHAT Purpose: To give a reasonably accurate idea of
the cost. The accuracy of your cost estimation
process can make or break project success. If under
estimate, the contractor suffers. If over estimate,
contract can't be secured.
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Types of estimation
APPROXIMATE DETAILED
ESTIMATE ESTIMATE
A detailed estimate of
the cost of a project is
An approximate
prepared by
estimate is an
determining the
approximate or rough
quantities and costs of
estimate prepared to
every thing that a
obtain an
contractor is required
approximate cost in a
to provide and do for
short time. For certain
the satisfactory
purposes the use of
completion of the
such methods is
work. It is the best and
justified.
most reliable form of
estimate.
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Types of Methods of Measurements
Estimation can be prepared using many ways for many functions and according to cost
and time frame:
cubic content Floor unit approximate bill of
area valuation quantities quantities
Very basic & X price per m2 100 bedded quantity of works
rough estimation. hospitals=RM5 X prevailing unit
calculated million, 1 rate
through total bedded-RM50,000
volume X price
per m3
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Types of Methods of Measurements
DATA REQUIRED to prepare a detailed estimate:
1. Plans, sections and other relevant details of the work.
2. Specifications indicating the exact nature and class of
materials to be used.
3. The rates at which the different items of work are carried out.
To enable an estimator to take out the quantities accurately, the
drawings must themselves be clear, true to the fact and scale,
complete, and fully dimensioned.
The estimator has also to bear in mind certain principles of taking
out quantities.
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SCHEDULE OF RATE
A schedule listing the works with the rates to provide a list of rates
for the valuation of variations purpose.
The rate is determined by location, plus minus with percentage.
Includes materials, labour & equipment.
Both can be used to:
a) build up the tender/contract sum.
b) provide a list of rates for the evaluation of variations purpose.
BQ - Quantities form part of the Contract.
SR - The Quantities do not form part of the contract
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BILL OF QUANTITIES
BILL OF QUANTITIES (BQ) –
is a quantified and completed list of works describing the full
requirements in the drawings and specifications.
It is a document used in tendering in the construction industry in
which materials, parts, and labor (and their costs) are itemized.
The bill is issued to tenderers, who return it with a price opposite
each item.
This priced bill of quantities constitutes the tenderer's offer. It is
possible for the bill to include the specification.
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BILL OF QUANTITIES
STEPS in preparing estimation / BQ are:
1
The recording of dimensions from field survey notes
Taking off and drawings onto dimension paper.
The second step consists of working out volumes,
2 Squaring out areas, etc. and casting up their total in recognized
units.
3 Abstracting
Transferred from measurement sheets to specially
ruled sheets having rate column ready for pricing
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TOTAL DEVELOPMENT COST
Considerations - Site Location
If the transport route is poor (if, indeed, any route exists at all),
then delays in material deliveries may occur.
If the project is in confined sites --> restricted working areas &
logistic problems --> low productivity from labour and equipment.
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TOTAL DEVELOPMENT COST
These are the items included in the development cost:
SITE PREPARATION Mechanical & External Works
Building
Electrical
Clearing & Plan shape, floor Cold water, ICT Sewerage, roads,
Demolition & area, circulation, cabling landscape,
Earthwork storey heights,
finishes
