Estimating the cost of a proposed construction project is a very complex process containing much variable factors.Proper study, training and experience are needed to become proficient in this area of engineering. There are several categories that can have significant impacts on project costs. The estimator should be aware of them and properly evaluate their effects.(…)
Construction management include a project manager, planning, estimation, scheduling, tendering, contracts, evaluation, time management, monitoring, costing, construction processes, construction equipments, duration. The role of the project manager is important in construction management.
Evaluation of Existing Buildings The available methods are evaluation by structural analysis based on known material properties, dimensions and loading, evaluation by analysis and physical load testing, and evaluation by analysis and structural modeling depending on the nature of the structure and the level of information available about the existing condition of the structure. Evaluation(…)
In writing specifications for construction contracts, care must be taken to ensure consistency of requirements throughout and conformity with what is written in other documents. This consistency can be promoted if one person drafts all the documents or, if parts are written by others, one person carefully reads through the whole finished set of documents.(…)
Construction Project Costs The principal components of a contractor’s costs and expenses result from the use of labors, materials, equipment, and subcontractors. Additional general overhead cost components include taxes, premiums on bonds and insurance, and interest on loans. The sum of a project’s direct costs and its allocated indirect costs is termed the project cost.(…)
Construction cost estimation is done to know in advance the expected cost in varying degree of accuracy, at different phases of the project. Owner’s Purpose of Estimate Making investment decision in the conceptual stage. Negotiate and finalize the contract at the implementation phase. To implement cost control measures. Contractor‘s Purpose of Estimate Determine project cost(…)
Construction Materials management can be defined as "the function responsible for the coordination of planning, sourcing, purchasing, moving, storing and controlling materials in an optimum manner so as a pre-decided service can be provided at a minimum cost". By another definition, "materials management can be said to be that process of management which coordinates, supervises(…)
Unit Cost Method Estimation If the design technology for a facility has been specified, the project can be decomposed into elements at various levels of detail for the purpose of cost estimation. The unit cost for each element in the bill of quantities must be assessed in order to compute the total construction cost. This(…)
Project Life Cycle The acquisition of a constructed facility usually represents a major capital investment, whether its owner happens to be an individual, a private corporation or a public agency. Since the commitment of resources for such an investment is motivated by market demands or perceived needs, the facility is expected to satisfy certain objectives(…)
Cost estimation of construction projects is a very complex process containing many variable factors. Cost estimation requires proper study, training and experience.