Estimation & Costing

Build the unit rate for an item by summing the costs of materials, labour and plant for the standard unit of work, then add overheads and contractor’s profit (about 10–15%).

Measure quantities from drawings using the centre-line or long-wall/short-wall method, apply the standard formulae (e.g. steel weight = D²/162 kg/m), and make deductions for openings per IS 1200.

Prepare a detailed estimate by measuring every item’s quantity, pricing each with its analysed rate, summing them in the abstract, and adding contingencies and establishment charges to reach the total cost.

Estimate a property’s value by the appropriate method — rental (capitalising net income via year’s purchase), or cost/depreciation (replacement cost less depreciation) — selecting the method to suit the property and purpose.

Define the quality of work through general and detailed specifications, invite competitive bids through a tender with a bill of quantities, and award to the lowest responsive bidder after securing EMD and performance security.