The quantity surveyor, civil engineer or project manager use different methods of estimating in the early stages of cost planning. It depends on reliable historical 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 a project.
Type of Estimates in Project Management and Civil Engineering
There are several kinds of estimating techniques used in construction industry. These can be grouped into three main categories.
1. Pre-tender Price Estimating Methods
- Preliminary Estimates or Single Rate Methods
- Later Stage Estimating or Multi-Rate Methods
- Approximate Estimating
- Elemental Estimating
- Cost Modeling
2. Engineering Estimate
3. Contractor detail estimate
- Unit Quantity Method
- Total Quantity Method