Estimating is considered as one of the most critical stages in a construction project. A precise estimate helps in cost control, budgeting, planning, and decision-making of any construction projects. At different stages of construction and quantity surveying, various types of estimates are prepared at different times, depending on the level of detail and purpose.
In this latest blog from Skillz By Civilianz, clearly explain the various types of estimates in construction projects, their purpose, and where each one is used.
What Is an Estimate in Construction?
A construction estimate is a calculation of approximation of the total cost required to complete a construction project. It includes costs related to materials, labour, equipment, overheads, and profit. These estimates are essential for various reasons: project approval, tendering, financial planning, and cost monitoring.
Estimates are essential for:
- Project approval
- Tendering
- Financial planning
- Cost monitoring
Importance of Construction Estimates
- Estimates helps clients plan budgets effectively
- Assisting contractors in quoting competitive prices
- Completely prevents cost overruns during execution
- Supports financial control and cash flow management
- Estimates are considering essential skill for quantity surveyors and civil engineers
Types of Estimates
1. Rough Cost Estimate
A rough cost estimate, also known as preliminary estimate, is prepared at the initial planning stage of a project, even before detailed drawings are available.
Purpose:
- To know the approximate(not the actual one) project cost
- To decide whether the project is financially feasible or profitable
Features:
- This is based on plinth area, floor area, or cubic rate
- This estimate has less accuracy compared with other estimates
- This estimate is widely used for administrative approval
Accuracy of this estimates widely considered as Low
2. Detailed Estimate
A detailed estimate is considered as the most important and accurate type of estimate in any construction project.
Purpose:
- Detailed estimate is widely used for to calculate the exact cost of construction
- Detailed estimate is used for both the technical sanction and tendering
Features:
- Prepared using detailed drawings and specifications
- Includes quantity take-off, rate analysis, BOQ
- Basis for contract execution
Accuracy of detailed estimate is widely considered as High
3. Revised Estimate
As its name suggests, a revised estimate is prepared when the original sanctioned estimate exceeds the approved amount.
Reasons for Revision:
- Increase in costs of material and labour rates
- Changes in both the design or scope
- Due to mistakes and errors in the original estimate
Purpose:
- This estimate widely used for to get revised approval from authorities
4. Supplementary Estimate
A supplementary estimate is prepared when authorities or clients requested any additional works on previously approved projects that were not included in the original estimate.
Examples:
- Extra rooms
- Additional foundations
- Design modifications
Also notes that it is prepared along with the original estimate.
5. Supplementary and Revised Estimate
These two estimates are prepared when we face two issues: the project cost increases or any additional works are also involved. This report combines both the revised cost and extra items in a single estimate.
6. Annual Repair Estimate
Annual repair estimate is prepared for routine maintenance works carried out each and every year.
Examples:
- Painting related works
- Minor and major plaster repairs
- Leakage repairs
The purpose of this estimate is to maintain the building in usable condition.
7. Special Repair Estimate
A special repair estimate is prepared whenever major repair works due to damage or long-term use.
Examples:
- Replacement of doors, windows, cupboards, attached wardrobes, sanitary wares etc.
- To strengthen the quality of structure
- To replace roof
Special repairs are different from annual repair estimates that are not done yearly and involve higher costs.
8. Additions and Alterations Estimate
These kinds of estimates are prepared when modifications are required in an existing structure.
Examples:
- Extending the existing building
- Changing room layouts
- Adding floors
Role of Quantity Surveyor in Estimation
A quantity surveyor plays a key role in:
- Preparing accurate estimates
- BOQ preparation
- Rate analysis
- Cost control during execution
To understand the types of estimates required is a fundamental skill for anyone pursuing a career in both the quantity survey or construction management.
Final Words
Different types of estimates serve different purposes at various stages of a construction project. From the preliminary planning to execution and maintenance, estimates help ensure financial discipline and project success.
For civil engineers, civil diploma holders, and quantity surveying aspirants, mastering estimates is essential for career growth and job readiness. Skillz by Civilianz offers best quantity survey course in Kerala https://www.skillzindia.in/contact/
