What is an estimate or estimation in construction industry? Estimate is a rough calculation on quantities of various works & their expenditure, done by the experts of the relevant field before the execution of a project. Accuracy of an estimate depends on the experience, ability and judgement power of the estimator.
Anyone who willing to engage them on constructing something, they’ll surely bother about the quality & money/cost. To feel free from them a solution called “estimate / estimation” was derived…! An estimator should be very careful of the quantity takeoff, using the given documents such as drawings, specifications and other documents regarding the project.
Other than these, every estimate should prepare with the consideration of other 2 factors, which influence a project namely, direct & indirect cost. (Direct cost – cost of materials, equipment, labour & subcontracted cost, Indirect cost – overheads, contingency).click here to continue
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