estimate
In simple words estimating is the process
which guides us to determine the cost, quantity, tools,plants and
labors which are needed to complete the project with in time of
completion.
Before taking up any work contractor should
have a thorough idea of works and cost. With out this knowledge it will
too risky to take up any work. estimating and costing deals with this
problem and gives us a detailed idea of work and cost.
Thus an estimate for any construction work may be defined as the process of calculating the quantities and costs of the various items required in connection with the work. It is prepared by calculating the quantities, from the dimensions on the drawings for the various items required to complete the project and multiplied by unit cost of the item.
An estimate is necessary to give the owner a reasonably accurate idea
of the cost to help him decide whether the work can be undertaken as
proposed or needs to be curtailed or abandoned, depending upon the
availability of funds and prospective direct and indirect benefits. For
government works proper sanction has to be obtained for allocating the
required amount. Works are often let out on a lump sum basis, in which
case the Estimator must be in a position to know exactly how much
expenditure he is going to incur on them.
PURPOSES OF ESTIMATING:
- MONEY-to determine necessary amount of money required by the owner to complete the proposed work.
- QUANTITY– to determine the quantities of materials required in order to program their timely procurement.
- WORKER– to determine the number of various types of workers required in each work.
- TOOLS AND PLANTS-to arrange necessary tools and plants as per schedule of work in correct numbers.
- SCHEDULE– to create a schedule of work.
- TIME-to calculate the completion time of project
- COST BENEFIT RATIO-to justify cost benefit ratio.
Purpose of estimating is to give a reasonably accurate idea of the cost
An estimate is necessary to give the owner a reasonably accurate idea of the cost to help him decide whether the work can be undertaken as proposed or needs to be curtailed or abandoned, depending upon the availability of funds and prospective direct and indirect benefits. For government works proper sanction has to be obtained for allocating the required amount. Works are often let out on a lump sum basis, in which case the Estimator must be in a position to know exactly how much expenditure he is going to incur on them.1. Estimating Materials
From the estimate of a work it is possible to determine what materials and in what quantities will be required for the work so that the arrangements to procure them can be made.2. Estimating Labor
The number and kind of workers of different categories who will have to be employed to complete the work in the specified time can be found out from the estimate.3. Estimating Plant
An estimate will help in determining amount and kind of equipment needed to complete the work.4. Estimating Time
The estimate of a work and the past experience enable one to estimate quite closely the length of time required to complete an item of work or the work as a whole. Whereas the importance of knowing the probable cost needs no emphasis, estimating materials, labor, plant and time is immensely useful in planning and execution of any work.Related Posts
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