Construction of a structure involves a number of activities e.g. construction of a building will involve excavation for foundations, masonry, concreting , timber work plumbing for water supply and drainage, electrification etc. These activities in turn consume resources such as materials, human efforts in the form manual work put in by skilled and unskilled work, equipment, supervision etc. All these resources cost money and hence the cost of the resources constitute the basic cost of constructing a structure. In additional we must consider costs of related items like preliminary works before starting, winding works after completion, fees for licenses, permits, consultancy etc.
Construction projects passes through various phases and a number of agencies are associated with it. Estimate of costs is necessary for each agency and for each phase to serve a specific purpose. The estimation during different phases and different purposes is discussed in the following sections.
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