This text provides an introduction to the importance of estimating construction costs in the construction industry. Accurate cost estimates are crucial for successful project completion and ensuring all parties involved receive fair compensation. The process of cost estimation involves detailed analysis and compilation of bid documents based on specifications and work drawings. The accuracy of cost estimates relies on the estimator's skill and their ability to follow the project's progress and obtain up-to-date information. The text also discusses the budget plan, which calculates the costs required for materials, wages, and other project-related expenses. The budget plan serves as a tool for controlling costs and preventing resource wastage. The stages of preparing the cost budget plan, such as calculating the volume of work, analyzing unit prices, and creating a detailed bill of quantity (BoQ), are explained. The text concludes with the results and discussion section, which includes information on the highest average unit price per square meter for multi-storey buildings and the percentage of building work components. Additionally, it mentions standard and non-standard cost components based on experience and research in the field.
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Incomplete project definition at schematic design phase create difficulty in obtaining tangible cost estimate. This research work attempted to establish a time saving quantification model of architectural and structural design relationship for faster estimation of cost of concrete in column bases of residential duplexes. It collated substructure cost predictive variables of 30 residential duplexes from participating construction and cost professionals and crafted and validated from analyzed statistics 5 predictive models for quantifying cost of substructure concrete. It established among others that volume of concrete in column base cannot be estimated from linear regression model based on block work girth alone, but from a multiple regression of floor area and block work girth. It recommended the evolved model as adequate and fit for the forecast of volume and cost of concrete at column bases at sketch design stage when there is no detailed plan. 1.0 Introduction The quantity surveyor is often required to provide an estimate of cost and value of a project at inception when project requirements are undefined, or at best provisional. Quantity Surveyors at sketch design stage are required to predict cost in order to ensure that the project cost falls within clients approved budget. Most Quantity Surveyors use hunch or discretion to assign values to some structural engineer's details not available in the architectural drawings when producing approximate cost estimate. This research attempts to develop a model of architectural and structural design relationship which will enable a faster and more accurate generation of approximate estimate. It focuses precisely on evolving a model based on Approximate Quantity Estimating techniques which attempts to estimate cost of column base concrete before significant foundation design work is done. The model would help ease the high pressure scenario in which most construction estimators often find themselves and would add to the progression in the development of cost models. 2.0 Literature An Estimate is a calculation of the quantities and costs of various items of work required in a project. The estimated cost of work is deemed to be a close approximation of its actual cost. The closeness depend on accurate use of estimating methods and correct visualization and definition of total work requirement. Underestimation of cost results in unpleasant shock leading to change orders or project modification or even abandonment. While over-estimation, cast doubt on the competence and expertise of the professional Quantity Surveyor/Cost Engineers or Estimators involved as the cost adviser and manager of project. Data required for preparing estimate include; plans, sections, elevations and other details/specification indicating the exact nature and class of material to be used and the rates at which different items of work are carried out. The purpose of estimating is to give the client reasonably accurate idea of the project cost to guide his decision to undertake, curtail or drop the proposal depending on funds available, direct and indirect project benefits. Two main groups of estimating techniques for building project are; 1. Approximate Estimating-this include functional unit, cube, floor areas, storey enclosure, elemental cost and approximate quantity methods and are used at varying levels in the definition of project costs before substantial/full definition.
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