Methods of Estimate

Methods of Estimating / Type of Construction Estimate

Methods of estimating,used in the early stages of cost planning,depend on reliablehistorical cost data whereas an analytical approach to estimating is based on applying current prices for resources to a well-developed design.A contractor may use a combination of estimating methods in developing a cost for a design and build project

1. Preliminary Estimate

Ø         ( i )  Single Rate Methods

·        Unit Method .......

·        Cube Method ......

·        Story Enclosure Unit Method

·        Superficial Area Method......

Ø         ( ii )  Later Stage Estimating ( Multi Rate Methods)

·        Approximate Estimating

·        Elemental Estimating

·        Cost Modeling

2. Engineering Estimate

3. Contractor detail estimate

·                    ·      Unit Quantity Method

·                    ·     Total Quantity Method