Estimating and Costing
Learn : Estimating and costing
• Estimate is required to be prepared for every work to know quantity of material and cost of work.
• In civil engineering, word estimate is related with various civil engineering structures like buildings, roads, dam, canal, railways, bridge etc.
•An estimate can be defined as ‘the procedure or method of working out the probable cost of a work’. An estimate is prepared by working out the quantities and then calculating the cost at suitable rates. • Before the construction work of any structure is started, calculation of quantities of various items of work and its probable cost is done. This is known as estimating. Before starting any civil engineering work or project, it is necessary to know its approximate cost by calculating quantity of various items and multiplying it by unit rates of materials. • As far as estimating is concerned, it is done by studying and analysis of drawing and specification. Estimate of a work is governed by quantity and quality aspect. Quantity is related with drawings and quality is related with specifications of materials and workmanship.
Estimates are prepared in standard forms known as:
1. Measurement sheets.
2. Abstract sheets.
Costing is defined as ‘the determination of actual cost of the work before the execution of it’.
• To know the cost of work, detail estimate is prepared in measurement sheets and the probable cost of various items is entered in the abstract sheets.
• To arrange the finances for the work to be executed, costing is necessary.
What Will I Learn?
- Learn basic knowledge of estimating and costing