In construction estimate means working out approximate requirement of various resources required for constructing structure. Resources for construction constitute materials, labour (human efforts), equipment and time. All these resources are closely linked with money. It is, therefore, customary to estimate the money required for constructing a structure. Estimating is, therefore, very commonly understood to be working out the approximate cost they will have to be spent for creating a structure. This cost is worked out before the construction is'started, it relates to future. There being uncertainties about the future, estimate has therefore an element of approximation. The actual cost is known only-after the structure is completed.
All the parties/agencies associated with the construction viz, owner/user, architect, contractor, supervisor are interested in estimates. Estimates are needed in different stages of the project. A good estimate should be as close to the actual cost of construction.
In this unit we shall consider different aspects of estimation of a construction work. The unit will begin with broad idea of what a construction is and the procedure of preparing an estimate. Subsequently the estimation during different stages of the construction project will be discussed.
Objectives
After studying this unit you will be able to:
- understand components of construction estimates,
- know different types of estimates for construction work, and
- understand the broad outline of the estimating procedure for the above estimates.
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