Estimation Flashcards
What is a detailed estimate?
Preparation of estimate by considering all items of work, working out quantity, and determining the cost of each item. 3-5% of total estimated cost is allowed for contingencies.
A detailed estimate is essential for accurate budgeting and project planning.
What is an approximate estimate?
Required for administrative approval of project. 5-10% of total estimated cost is allowed for contingencies.
This type of estimate is generally less precise and is used in the early stages of project planning.
What is the plinth area method?
Total cost = plinth area x rate per area.
This method provides a quick estimate based on the total floor area of a building.
What is the cubical content method?
Total cost = volume of building x rate per volume.
This method is useful for estimating costs based on the overall volume of the structure.
What is the formula for the Unit base method?
Total cost = Total no. of unit x rate per unit
In the context of schools and colleges, how is a student considered in the Unit base method?
A student is considered as a single unit
In hospitals, what is considered as a single unit in the Unit base method?
A bed is considered as a single unit
What is the Approximate quantity method?
Total length of wall is calculated in running metres and multiplied by the rate per metre length of wall
Is the Approximate quantity method commonly used?
Rarely used
What is the basis for preparing the approximate method?
Practical knowledge and the cost of similar works
What is a revised estimate?
A detailed estimate prepared under specific circumstances
Circumstances include material deviation, exceeding the original sanctioned estimate by 5%, or exceeding expenditure by 10% compared to administrative sanction.
What must accompany a revised estimate?
Comparative statement
This statement usually compares the revised estimate with the original estimate.
What is a supplementary estimate?
A detailed estimate prepared for additional works required
This is also known as a fresh detailed estimate for additional work.
When is a revised estimate prepared?
When there is a material deviation or when certain financial thresholds are exceeded
These thresholds include exceeding the original sanctioned estimate by 5% or exceeding expenditure by 10%.
Fill in the blank: A revised estimate is prepared when the original sanctioned estimate is exceeded by _______.
5%
Fill in the blank: A revised estimate is prepared when expenditure exceeds _______ than administrative sanction.
10%
What is Lead in the context of earthwork?
Average horizontal distance between site of earth work and disposal area.
What is Lift in earthwork?
Average vertical distance between level of excavation and to the place of spreading or heaping.