WHY ESTIMATING IN CONSTRUCTION Essay Example | Topics and Well Written Essays - 1250 words

WHY ESTIMATING IN CONSTRUCTION - Essay showcaseOnly with such forecasts can clients be informed of the likely financial commitment. Designers need advice on the answer of their decisions on the cost of the project, and contractors need to be confident that the estimates that form the basis of their tenders argon realistic. If their tender prices argon consistently high they will fail to attract work, alternatively if their prices are too low, they will defecate work at unprofitable rates.Cost estimating methods have followed closely the division between the blueprint microscope stage and the plait cast (Ogunlana, 19). During the design phase the cost estimate is the principal responsibility of the clients cost estimator the quantity surveyor or the design engineer. The estimate of flesh out construction costs is rarely commenced until the tendering process is set in motion, and a contractor is requested to tender for the work.The level of detail include indoors the cost es timate will be dependent upon the clients requirements and the stage within the project that the estimate is required. In the design stage the information available and the speed at which estimates are required precludes the preparation of a detailed estimate. It is not until the period immediately prior to the start of construction that the level of information available enables a detailed estimate to be produced. Where the work is put push through to tender it becomes the responsibility of the client, or his representative, to provide sufficient detail of the project to enable a detailed estimate to be prepared. Construction cost estimating may therefore be divided into two categories design phase cost estimating and contractors cost estimating. Within each of these two categories there are several different methods of producing cost estimates.This paper provides a description of the estimating methods used in the design phase and also describes