ESTIMATING EPISODE – 1

ESTIMATING I

What is estimating works?

Estimating is a process to determine the cost required to complete a construction project according to the contract plans and specifications. Deep knowledge, common sense and judgement on construction field is required since the estimating is not an exact science. Definition of scope of work and time available for the estimator will affect the accuracy of estimating.

 

What is the output of estimating works?

  • Type of work.
  • Type of material.
  • Type of equipment.
  • Rate of material.
  • Rate of equipment.
  • Rate of worker.
  • Time needed for the project.
  • Cost needed for the project.

 

What is the importance of estimating works?

The success of a project is measured by doing the right work according to the contract plans and specifications with a right price for the material and worker within the time frame that has been assigned.

Furthermore, definition of the successful tender is the one where the value of the tender are competitive  enough to win the bidding and ample to allow the contractor to bear any obstacle during the construction phase but still have the profit at the end of the construction.

Thus, a good estimating works play and important role in each contractor firm to ensure their performance in this construction industry.

By – Aina Johari, QS

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