Quantity Surveyors Use Common Methods of Estimating
Quantity Surveyors, construction professionals, are members of the Institution of Surveyors, Malaysia, and its Board of Quantity Surveyors Malaysia. Quantity Surveyors offer advice on financial and contractual administration. Andrew Doyle (1997) stated that the Quantity Surveying industry is continually under scrutiny, and there are regular demands for better estimation.
Analyzing a specific scope of work to predict the cost of the work. Cost estimation also includes gathering, analyzing, and summarizing all data relevant to a construction project.
Cost Estimating Methods in Building Construction
Most construction projects use cost estimating methods for estimation purposes. This article will discuss cost estimation methods, preliminary estimating, approximate quantities, and elemental methods of estimating.
The quantity surveyor plays an important role in cost estimation methods for construction projects. Because the cost of construction projects is everything and can have a significant impact on the client’s financial stability, the quantity surveyor must clearly identify the work items that will be required to complete the project. This article will cover the cost estimation method for building construction.
Estimates Are Made For A Specific Purpose
- To allocate the appropriate amount for government work, proper approval must be obtained. Many works are released on a lump-sum basis, and the estimator must know how much he will spend on them.
- It is possible to estimate the cost of a job and determine the materials required. This allows you to make arrangements to purchase them.
- You can find out the estimated number and type of workers required to complete the task within the time frame.
- A preliminary estimate can help you determine the equipment and amount required to complete the job.
- An estimate of a job and past experience can be used to accurately estimate the time it will take to complete the item or the entire work.
Approximate Estimating Techniques
When information on the project is scarce, interpolation is used. This requires considerable skill and experience. It involves adding or subtracting from the cost analysis figure in order to calculate a budget for a project. The client may decide to remove air conditioning from the estimate for the new project. This will need to be taken out of the budget.
Quantity Survey and Estimation
Quantity Surveyor estimation can be described as the art of estimating materials cost and quantity.
Quantity survey is a critical part of estimation construction and any other relevant project.
It will assist in the estimation of all applicable costs and material quantities. If all these factors are determined, funds can be released for the project.
These data are essential for estimation.
The drawings are used to prepare the estimate.
The drawings show the heights, lengths, and thicknesses for different parts of a project.
The drawing shows the dimensions of each component and an estimate is prepared accordingly.
Plan, Elevation, and Sectional Elevation are all forms of drawings used in building estimation.
For the representation of project quality, specifications are included with drawings.
For accurate estimation, it is important to have the right rates for material and construction.
These rates should be based on reality.
Cost estimation will be done by multiplying the rates by the amount of material or work required.
The Schedule of Rates for different public and private agencies can help you determine the rates of material and construction work. You can also analyze completed work to obtain all necessary rates.