Approximate estimate, also known as preliminary or rough estimate, helps to find out the approximate cost of a project in a very short time. Moreover, it enables the concerned authority to consider the financial aspect of the scheme to accord ...
Category: Estimating & Costing
Estimating and costing in construction management is the calculation of quantities of materials, tools, equipments, labors etc. and cost associated with them.
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What is Cost of Quality in Construction?
Cost of quality in construction is the cost incurred by the company in attaining and maintaining good quality throughout the product’s operational life to achieve the highest level of customer satisfaction. Thanks to the increasingly competitive business market, one is ...
Construction Estimates – Definition, Purpose, and Types [PDF]
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An estimate for any construction work may be defined as the process of calculating the quantities and costs of the various items required in connection with the work. Before the start of any work for its execution, the owner of ...
What is Activity-Based Costing (ABC)? [PDF]
![What is Activity-Based Costing (ABC)? [PDF]](https://i0.wp.com/theconstructor.org/wp-content/uploads/2020/06/activity-based-costing-v3-629x420.png)
Activity-based costing or ABC is a costing approach for optimizing cost and time. Besides measuring the performance of an activity, this cost accounting technique helps to identify all the costs related to every unique activity. The activity can be placed ...
Why is Plan Cost Management Necessary? [PDF]
![Why is Plan Cost Management Necessary? [PDF]](https://i0.wp.com/theconstructor.org/wp-content/uploads/2020/05/cmp3-629x420.jpg)
Plan cost management is a system for handling the costs of a project throughout its lifecycle. With the help of a cost management plan, standard procedures, policies, and documents can be put in place. This makes planning, managing, and controlling ...
Top 7 Sustainability Issues with Construction Industry [PDF]
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The construction industry is one of the largest consumers of natural resources. It primarily uses 60 percent of the world’s natural resources directly or indirectly as construction materials for developing buildings and infrastructure. The issues that develop after having these ...
How to Make Deductions in Masonry Construction Estimation?
Deduction is necessary in certain cases while estimations are carried out for masonry constructions. For instance, the presence of openings in masonry walls, bearings, doors, windows, segmental arch openings, and semi-circular arch openings. Deductions for these conditions shall be conducted ...
What are the Requirements of Good Building Construction Estimator?
Construction estimator plays essential role in the success of building construction projects. There are several requirements that each construction estimator need to have in order to produce proper estimation. For instance, he/ she needs to have sufficient knowledge about drawings ...