Estimation, Costing and Valuation

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    GTU 5thSem. (2014)

    Parshwa Engineering Classes

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    Definition :

    Estimating is the technique of calculating orcomputing the various quantities and theexpected Expenditure to be incurred on aparticular work or project.

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    In case the funds available are less than theestimated cost the work is done in part or by

    reducing it or specificationsare altered, thefollowing requirements are necessary forpreparing an estimate.

    Drawings like plan, elevation and sections ofimportant points.

    Detailed specifications about workmanship &properties of materials etc.

    Standard schedule of rates of the current year.

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    Estimate give an idea of the cost of the workand hence its feasibility can be determinedi.e. whether the project could be taken upwith in the funds available or not.

    Estimate gives an idea of time required forthe completion of the work.

    Estimate is required to invite the tenders and

    Quotations and to arrange contract. Estimate is also required to control the

    expenditure during the execution of work.

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    Drawings i.e. Plans, Elevations, Sections etc. Specifications.

    Rates.

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    Approximate estimate or preliminary estimate Detailed estimate

    Quantity estimate

    Revised estimate Supplementary estimate

    Supplementary and Revised estimate

    Annual Repair or Maintenance estimate

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    To find out an approx. cost in a short time. Prepared from practical knowledge and cost

    of the similar works.

    Prepared by different ways for differentstructures and works. Roads and Highways :

    Per kilometer basis depending on the nature of road,width and thickness of metalling.

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    For Buildings :

    Service unit method

    Plinth area method

    Floor area method

    Carpet area method

    Cubical content method

    Typical bay method

    Approx. quantities method

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    Details of measurement and calculation ofquantities :

    Abstract of estimated cost :

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    Technical sanction from the competentauthority.

    Total cost of the project.

    Items required to complete the project. Prepare tender document to award the job.

    Check and fill the tender.

    Bills of contractor for payment.

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    Ability to read and interpret drawingsaccurately.

    Construction experience

    Knowledge of const. rules and regulations.

    Knowledge of procedure of construction.Labour problems, materials, specifications.

    Knowledge of measurement.

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    Prepare an estimate. Prepare specifications.

    Survey of buildings and land.

    Rate analysis. Finalize the final accounts.

    Supervision of site.

    Work as arbitrator, valuation knowledge,

    prepare schedule of work.

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    Overhead charges Contingencies

    Water charges

    Provisional sum Prime cost

    Provisional Quantities

    Spot items

    Day work

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    odes of easurement

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    Each item shall be fully described Order shall be in L,B,D.

    All dimension which taken should beaccurate.

    Same type of work under different conditionsand nature shall be measured separately.

    Work under following categories shall be

    measured separately, From Foundation to P.L.

    From P.L. to F.F.L.

    Bill of Quantities shall fully describe all stuffs.