About Estimating and costing

1. • Unit-I Introduction
Estimating, Costing and Valuation
Prepared by:
Janak Mehta
Assistant Professor
Civil Engineering Department
Diwaliba Polytechnic, Mahuva.

2. Contents
• Introduction to estimating and costing
• Procedure of estimating or Method of estimating
• Data required for preparing an estimate
• Objectives of estimating and costing
• Skills required for a good estimator

3. What is estimating and costing?
• The process of calculating the quantities and
costs of the various items required in connection
with the work to know its probable cost required
to complete the proposed work is called
estimating.
• The process of determining the probable cost of
the project, after knowing the quantities of
various items and their unit rate is called
costing.

4. Procedure of estimating or Method
of estimating
Estimating involves the following operations
• Preparing detailed Estimate
• Calculating the rate of each unit of work
• Preparing abstract of estimate

5. Data required for preparing an estimate
1. Drawings i.e. plans, elevations, sections etc.
2. Specifications i.e. general and detailed
specification
3. Rates i.e. items rates

6. The Complete Estimate

7. Objective of estimating and costing
• it gives an idea of the cost of the work and hence
its feasibility can be determined.
• it gives an idea of time required for the
completion of the work.
• it is required to invite the tenders and Quotations
and to arrange contract.
• it is also required to control the expenditure
during the execution of work.
• it decides whether the proposed plan matches the
funds available or not.

8. Which skills required for a good estimator?
• He must posses ability to read and interpret
drawings accurately and efficiently.
• He must have construction experience in the
field.
• He must have knowledge of construction rules
and regulations.
• He must have good knowledge of mensuration
and simple trigonometry.

9. • He must have through knowledge of construction
methods and procedures, materials of construction,
labour problems, specifications.
• He must have good knowledge of a measurement of
various items of construction.
• He must possess accuracy in calculations and costs.
• He must possess good general knowledge.
• He must possess excellent personal qualities such as
common sense, skill, experience, foresight, good
judgement.