ESTIMATION OF BUILDING
Any common man has one
dream in life i.e. to construct his/her own dream home. However, before even
planning to buy or starting construction work of their home, one has definite
curiosity to know whether the cost will fit-in his/her budget. Estimate gives
the approximate cost of construction which will help the owner/builder to
decide whether the proposed work can be carried out with the available funds or
at further disposal and then plan its details during construction.
The process of calculating the quantities (The
quantity with reference to the measurement in the drawings, i.e. plans,
elevation, section) and cost of various construction items i.e. excavation,
concreting, masonry, plaster etc. of the project is called an estimate.
As the word suggests,
it is an estimate of what the cost would be on completion. It can be based on
“lump sum” i.e. thumb rule bases like plinth area or per sqft rate at the
conceptual stage. Once plans are decided it has to be in details for its
methodical & scientific planning and execution or say for right
construction management and selection of materials. It will form the bases of
so many decision and documents and will play an important role in the
choice/selection of material as well as /construction technology.
Purpose of Estimate & Costing
There
are numbers of the purpose of estimate & costing. However, the major
include as below:
(a) Administration Approval/For Taking in Principle
Decision to go Ahead
To take in principle decision whether to go ahead with
the house construction or not. Usually administration approval is necessary in
government department. After obtaining, administrative approval technical
sanction is given by competent authority, sanctioning funds for project/i.e.
allowing funds. The lump sum area-based rate will give an idea whether with the
funds available/ manageable the proposed building can be completed or not. Such
estimates are based on area bases or per sqft bases or thumb rules.
(b) Selection of Construction Materials/Technology
Once in principle
decision is taken, the design will be prepare with planning for materials &
technology. Selection of right construction material is required for successful
completion of the construction project. Estimate is majorly required to plan
and to choose the right construction materials and also for deciding the right
technology. The plus or minus of each cost will help you to choose between
alternate materials of varying cost i.e. vitrified tiles v/s marble, white
washing/acrylic paint and so on. As the total cost will ultimately depend on
the cost of selected materials, which are available in a wide range in the
market.
(c) Required Quantity of Material
Estimate
is useful for estimating the quantity of materials which are required for the
proposed construction work. So, materials can be bought and will be arranged as
per estimated quantity during the given time limit, during the proposal of work
depending upon their lead time. (As all materials are not available in the
market in ready form/stocks)
Estimate will also give you the required number of
labour forces required for different categories of work, those will be employed
to complete work within specified time. Estimate is also used for calculating
the wages of labour, carpenter, Mazdoor, bhisti, skilled, unskilled mason etc.
and to decide labour cost of different constructions items like excavation,
masonry, concreting, plaster, painting etc.
(e)
Equipment, Tools and Plants Requirement
This
stage will help to determine the quantity and cost of tools, plants, machinery
and equipment’s required to complete the work according to the project
size/type. It may also include maintenance cost of various equipments,
machinery and plants. Estimate also includes the lump sum and unit costs for
loading, unloading and transportation cost of construction materials.
(f)
To Plan Time
At this stage, the estimate can become very useful
for finding out or calculating the completion time for the project, based on
quantity or volume of work of different items, and also funds needed for each
item. For completion of work, it is important to schedule time for each work
items so as to complete work within the stipulated time limit.
(g)
Final Decision
At this stage, the owner/builder can make final
decision depending upon final cost, whether to go ahead or not or make some
changes in design/specification.
(h)
Project Sanction
Estimate is used to accord final sanction and
approve any construction project. The estimated cost is worked out so that the
necessary funds can be arranged in a given time by the competent authority for
efficient and successful completion. In case of private owner, one can plan for
housing loan, if needed. The owner can take a decision whether to go for a
project and also to decide whether to restrict or to change the size of
project. This is normally done after completion of all basic drawings and
designs.
(i)
Cost Control
Budget is one of the most important aspects
affecting any common person. Cost control is the main purpose of the estimation
and costing. If you don’t have an estimate in your hand, you will not have any
idea whether your building cost is increasing and you cannot control the cost.
Also, sometimes due to lack of money during construction work, it may get
stopped & the owner will be put in a difficult situation.
(j) To Invite Tender/Quotations
At this
stage, estimating and costing is used to invite tenders or quotations of
different construction work items based on the estimated quantities of
different construction items for execution of construction work and to finalize
the contractor by comparing quantity with estimated quantity and rates/offers. It
is also used for preparing bills for payment.
(k)
Valuation
Estimate is very useful for the valuation (It is
the technique of estimating or determining the fair market value of the
property) of existing property such as building, or any other engineering
structures, etc.
While preparing
estimate, it is necessary to know what the purpose behind preparing an estimate.
Estimate is prepared as per the requirements of the project in various stages,
and it is very helpful to decide and control the budget.
Therefore, estimation and costing plays vital role for
starting any construction work. Estimating and costing thus serves the number
of purposes in the construction process including preparation and finalize of
bids and cost control. The main purpose is to provide to volume of work for
cost control and to see that the adequate options of materials are explored
during the execution of the project.
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