Chapter 2 - Different Important Types of Estimates
Chapter 2 - Different Types of Estimates
In our earlier article, i.e. Chapter 1 – Basic Introduction to Estimating and Quantity Surveying, we have learned about the basics of Estimates and Quantity Surveying.
Now, in this article, we will be going to learn about the different types of estimates that are used to carry out the estimates in this field of Civil Engineering.
Follow the article to learn more about the types of estimates,
Types of Estimates
Detailed estimate or Item Rate estimate or Intensive estimate.
- A detailed estimate is a precise estimate that is created in two steps. The first stage involves accurately extracting the measurements of each item from the drawings and computing the amounts beneath each item. The cost of each piece of work is determined in the second step, and the overall cost is computed by adding all of the expenses together.
- A percentage of the projected cost is added to account for those things that do not fall under any of the other headings, as well as certain unanticipated costs. Contingencies are the term for this. The contingencies are generally estimated to be between 5% and 10%. Work-charged establishments may also be subject to additional percentages.
Plinth area estimate.
- The plinth area rate is calculated by dividing the cost of existing structures in the same region with identical specifications and construction by the plinth area. Now multiply the plinth area of the structure by the plinth area rate to get the projected cost of the proposed construction.
- If the plinth area is Rs.1500/Sqm, for example, the plinth area estimates of a building with a plinth area of 100 Sqm will be Rs.1,50,000/-. Taking the exterior measurements at the floor level, the Plinth area is calculated as the covered area. The courtyard and other open spaces are not permitted.
Cubicle content estimate or the cube rate estimate.
- The cube rate estimate is calculated by multiplying the proposed building's cubical contents by the cube rate, which is subtracted from the cost of similar structures in the area with similar specifications and construction.
- Both the plinth area and the cube rate values are approximations.
- A revised estimate is a comprehensive estimate that is created when the original estimate is no longer valid.
- There are significant differences from the initial proposal, or
- If the initial sanctioned estimate is expected to exceed by 5%, or
- If the spending exceeds the administrative sanction by 10%.
- A supplemental estimate is a comprehensive estimate created when new works are added to the existing works.
When engineering departments take on the job of other departments, they are paid a fee to cover the costs of setup, design, planning, monitoring, and so on. This is referred to as centage costs and typically ranges from 10% to 15% of the projected cost.