Showing posts with the label Estimating

Chapter 1 - Basic Introduction to Estimating and Quantity Surveying

Chapter 1 - Introduction to estimating and Surveying by EngineersIndia Introduction to Estimating Estimating may be described as a prediction of the likely cost of a construction or a project before the work begins. It takes talent, experience, foresight, and excellent judgment on the side of the estimator, as well as a thorough understanding of the materials and labor costs involved in the project. If labor and material costs stay constant, a reasonable estimate should not deviate by more than 15% from the actual cost of the project after completion. Guesswork entails making a random decision based on all relevant information. It may result in a figure that is either too high or too low. Estimating aids in the alteration or modification of a project to fit inside a budget. It is helpful in preparing tenders for construction projects and inspecting the work done by contractors for interim and final payments. It also serves as a foundation for determining the regular rent for buildi