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    Estimating and Costing. Lecture 1

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    Chopra Shubham
    The document discusses the importance of estimation and costing in building projects. It defines key terms like budget, estimate, cost, and value. There are different types of estimates like rough estimates based on past projects and plinth area rates, and detailed estimates based on actual quantities, current market rates, wastage, transportation costs, and contractor profits. Estimation is important before starting any building project to evaluate the likely expenditure and revise the budget based on a cost analysis. Proper estimation is essential for effective project planning and management.

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    Estimating and Costing. Lecture 1

    Uploaded by

    Chopra Shubham
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    The document discusses the importance of estimation and costing in building projects. It defines key terms like budget, estimate, cost, and value. There are different types of estimates like rough estimates based on past projects and plinth area rates, and detailed estimates based on actual quantities, current market rates, wastage, transportation costs, and contractor profits. Estimation is important before starting any building project to evaluate the likely expenditure and revise the budget based on a cost analysis. Proper estimation is essential for effective project planning and management.

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    The document discusses the importance of estimation and costing in building projects. It defines key terms like budget, estimate, cost, and value. There are different types of estimates like rough estimates based on past projects and plinth area rates, and detailed estimates based on actual quantities, current market rates, wastage, transportation costs, and contractor profits. Estimation is important before starting any building project to evaluate the likely expenditure and revise the budget based on a cost analysis. Proper estimation is essential for effective project planning and management.

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    © All Rights Reserved
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    8 views8 pages

    Estimating and Costing. Lecture 1

    Uploaded by

    Chopra Shubham
    The document discusses the importance of estimation and costing in building projects. It defines key terms like budget, estimate, cost, and value. There are different types of estimates like rough estimates based on past projects and plinth area rates, and detailed estimates based on actual quantities, current market rates, wastage, transportation costs, and contractor profits. Estimation is important before starting any building project to evaluate the likely expenditure and revise the budget based on a cost analysis. Proper estimation is essential for effective project planning and management.

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    © All Rights Reserved
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    Estimating and Costing

    ( AR – 313)

    Lecture 1

    Prof. Anurag Roy & Geeta Saha.

    Gateway College of Architecture and Design


    Budget:
    Allocation of Funds for probable cost of a product or an item of work

    Based on
    •Intuitive approach and financial capacity
    •Reviewed and Revised based on analysis of cost estimates

    Estimates
    • Estimation is the likely expenditure to be incurred on a particular project
    or items of work.
    • It is a term used to evaluate expenditure before the commencement of
    works.
    Cost
    Cost is a term used to express actual expenditure after the completion of the
    project or items of works.

    Value
    Value is an expression for its worth
    Types of Estimates

    Rough Estimates
    •Based on the experiences of the past projects of similar nature.
    •Plinth Area Rates by CPWD.

    Detailed Estimates.
    • Based upon actual quantities of materials
    • Market rates of Material and labour
    • Wastage component.
    • Transportation and stacking of Materials
    • Profits and overheads
    Discuss briefly with relevant examples, ‘The importance of
    Estimation’ in Building Projects

    Submission : Today 11.00 AM

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