Introduction to estimating & costing
This document provides an introduction to estimating and costing in construction projects. It discusses the key steps in the estimating process, which includes preparing detailed estimates, calculating unit rates, and preparing an abstract of the estimate. The data required to prepare an estimate includes drawings, specifications, and item rates. The objectives of estimating and costing are to determine the feasibility, time required, invite tenders, control expenditures, and ensure the project budget matches available funds. Good estimators require skills such as accurately interpreting drawings, construction experience, knowledge of rules/regulations, mensuration skills, understanding construction methods/materials, accurate calculations, general knowledge, and personal qualities like common sense and good judgment.
Introduction to estimating & costing
- 1. • Unit-I Introduction Estimating, Costing and Valuation Prepared by: Janak Mehta Assistant Professor Civil Engineering Department Diwaliba Polytechnic, Mahuva.
- 2. Contents • Introduction to estimating and costing • Procedure of estimating or Method of estimating • Data required for preparing an estimate • Objectives of estimating and costing • Skills required for a good estimator
- 3. What is estimating and costing? • The process of calculating the quantities and costs of the various items required in connection with the work to know its probable cost required to complete the proposed work is called estimating. • The process of determining the probable cost of the project, after knowing the quantities of various items and their unit rate is called costing.
- 4. Procedure of estimating or Method of estimating Estimating involves the following operations • Preparing detailed Estimate • Calculating the rate of each unit of work • Preparing abstract of estimate
- 5. Data required for preparing an estimate 1. Drawings i.e. plans, elevations, sections etc. 2. Specifications i.e. general and detailed specification 3. Rates i.e. items rates
- 7. Objective of estimating and costing • it gives an idea of the cost of the work and hence its feasibility can be determined. • it gives an idea of time required for the completion of the work. • it is required to invite the tenders and Quotations and to arrange contract. • it is also required to control the expenditure during the execution of work. • it decides whether the proposed plan matches the funds available or not.
- 8. Which skills required for a good estimator? • He must posses ability to read and interpret drawings accurately and efficiently. • He must have construction experience in the field. • He must have knowledge of construction rules and regulations. • He must have good knowledge of mensuration and simple trigonometry.
- 9. • He must have through knowledge of construction methods and procedures, materials of construction, labour problems, specifications. • He must have good knowledge of a measurement of various items of construction. • He must possess accuracy in calculations and costs. • He must possess good general knowledge. • He must possess excellent personal qualities such as common sense, skill, experience, foresight, good judgement.