Construction Cost Estimation
Project costing is the process of predicting costs for the successful completion of project objectives, the achievement of specified specifications for various project items and specified procedures. For a project that is well-defined through drawings and specifications, the estimate includes calculating the cost of various items of work, estimating rates and establishing costs.
Characteristics of construction cost estimates
A construction cost estimate is a forecast of the construction cost of a project. Estimating construction costs is the first step in any project management. In any construction project, two important factors come into play, namely the quantitative part and the qualitative part.
The statistical part is controlled by the analysis and analysis of the drawings prepared according to the plan. The quantity section covers the amount of work and estimates of materials and labor required for construction. Quality is controlled by product specification and functionality. These two parts lead to a plan for a job or project. Therefore, planning is a tool for planning and controlling the construction of any project in terms of quality, quantity, time and cost.
Initial and detailed construction cost estimates
In general, construction cost estimates can be divided into two categories: detailed and preliminary or preliminary. To be fair, all plans are more or less as the name suggests, and the true cost of the construction will not be known until all the work is done and all the costs are distributed.
1. Detailed construction cost estimates
The detailed estimate of the cost of construction is based on a detailed estimate that supports the definition according to the principle of equality using the unit cost of the various services obtained from the analysis of the tariff. Therefore, the detailed cost estimate provides an accurate estimate of the final cost and usually requires approval/approval from the developer or the relevant authorities vis-à-vis public bodies such as the government . arrangement. It is also used during construction to control progress and costs.
Full details included:
- The cost of different services
- Provision for bad things
- Immediate cost of maintenance
- Miscellaneous charges such as service charges for water, sewer and electricity connections
- Houses and offices, farms, etc.
2. Initial construction cost estimates
Rough or preliminary plans, or formal plans as they are sometimes called, are prepared before a full plan is made for any of the following:
To get an idea of the cost as part of the initial feasibility study. Competing for the allocation of funds, in terms of cost, as part of the investment decision process. Make arrangements in advance for equipment. Define risk insurance, etc. In such cases, the cost involved in developing a detailed plan may not be accurate or time-consuming or the data may not be available. It is the preparation of a detailed plan which may not be exact.
Costs are established as wages based on the unit cost of the main work-functions. Unit fees are updated using price lists published by government agencies or reputable companies. For example, the Central Department of Public Works has published a price list for various cities based on 100 per year for housing. The actual cost for one year is known from the records, and then the current cost will be determined using the appropriate indices.
- Project cost estimates are based on unit costs
- The price of the house depends on the place of construction
- Bridge cost estimates are based on estimated numbers
Quantitative analysis
Different countries follow different procedures for erasing numbers. The most common methods used in market research are:
- Select a number
- summary, and
- Billing
Exports and receipts are done on digital paper. The items are listed by element and the items are arranged in order of execution. Billing is done in the form of what is often called statistical billing where prices are calculated.
Units of measure for various construction projects
The size limit for a single project of construction work depends on its nature, size and shape. The general criteria for choosing a unit for construction work are as follows:
- Big, big and big in terms of volume as cubic content. Example: compact foundation, brick masonry. Important things rest on the floor with a large area that is recommended on the area that is recommended: roof tiles, mosaic tiles.
- Long, narrow and thin sections, with sections and other directions that are difficult to measure, are measured in linear units (i.e. length units). Example: handrail
- Things that are difficult to measure are measured separately, in units (i.e. numbers) Example: supply and repair of sinks.
- Things that are heavy and generally difficult to measure in terms of linear dimensions, compared to weight.
Rules for checking construction work
- The item description should be self-explanatory and should include all materials, services, shipping, equipment and fees for installation, processing, etc. Dimensions must be entered in order of length, width and depth or height or thickness.
- Measurements should be applied to the same work item under different conditions, clearly indicating the differences in specifications. Visits must be for completed work.
- The measurement system should be consistent and should reflect special provisions, if any, in the specification. The design of the project will show any special features of the implementation of the project and establish a connection with the plan.
- The degree of equality will depend on the same measure and the same rate for the same thing.
Analysis of construction service tariffs
The process of determining the quantity of the material is called rate analysis. The tariff revision will take into account:
- Other things work
- Direct labor required for production
- The cost of tools, equipment, machinery, auxiliary materials such as formwork, etc. This fee is paid directly as site maintenance by the contractor
- Pricing depends on site conditions
- Cost depends on specification requirements (example of design)
- Profile and others of the businessman.