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CVE 3204
ESTIMATING & CONTRACT
TOPIC 1: INTRODUCTION TO
COST ESTIMATING
Sr. ASMAWAN BIN MOHD SARMAN
Semester: January 2015
Learning Objectives:
2
Definition
4
Estimating
Estimating ERROR
Recover
confirm / precise
contractual sum (contract stage)
Design estimate
Bid estimate
Control estimate
Table 1 shows the chronological development of the project, and the way in
which the cost estimating relate to the plan of work and cost planning
process.
(RIBA stages)
RIBA
Stages
Inception
Feasibility
Outline
proposal
Scheme
design
Detail design
Cost
Procedure
Cost study ,
establish cost
limit
Feasibility
studies
Outline cost
plan
Prepare
detail cost
plan
Prepare cost
check
Costing
techniques
Cost study of
samples of
similar
building
Preliminary
estimates:
either from
developer /
consultant
(using
financial
method /
interpolation
method)
Estimates
based on
group
elements
Estimate
based on
individual
elements
Approximate
quantities
method
Product
Bills of
information quantities
Prepare
BQ
Tender
action
Project
planning
On-site
operation
Completion
feedback
Cost
analysis ,
tender
evaluation
Cost
report
Prepare
final
account
Update
record
Elemental
cost
analysis of
tender
Monthly
checking of
variations
and
instructions
12
(group elements)
Elements
Group
elements
Cost Target
Cost Target
Cost Target
$600,000
$750,000
$650,000
Individual
elements
Therefore;
15
16
Cost data
17
Dept. of
Statistics,
Malaysia
Priced books
COST
DATA
Information
services / cost
information
Tender /
contract
document / BQ
Spons Architects
& Builders priced
book
Spons
International
Construction Cost
Handbooks
Spons Asia Pacific
Construction Cost
Handbooks
Elemental Cost
Analysis in the
Malaysian
Surveyor
magazine by ISM
analysis / ECA)
Other sources:
19
CLIENT / EMPLOYER
20
A cost estimate,
assist in ALLOCATING THE BUDGET required
to execute a planned project.
Cost Estimate;
acts as a GUIDELINE in preparing a design so
that it does not exceed the cost limit stated by
the client.
Cost limit = Clients budget
CONTRACTOR / BUILDERS
22
PROJECT MANAGER
23
BUILDING MANAGER
24
Cost estimate;
25
Methods of Estimate
-
Preliminary estimate
Approximate quantity
Elemental estimate
Methods of Estimate
26
Options appraisal
schematic design
Preliminary Estimate
Unit
Cubic
Floor area
Storey-enclosure
Approximate quantity
Elemental estimate
Depends on:
The
Time
The
Relevant