Housing and Space Management

Housing And Space Management 3(2+1)

Lesson 28 : Cost Estimation Of The House

Purpose Of Estimating

1. To ascertain the necessary amount required by the owner to complete the proposed work for his decision and arranging fund for the same.
2. To ascertain the quantity of materials required for programming timely procurement.
3. To know the number of different categories of workers that is to be employed to complete the work within the schedule time of completion.
4. Estimate helps to assess the requirements of tools, plants and equipments required to complete the work according to the programme.
5. To fix up the completion period from the volume of work involved in the estimate.
6. To draw up construction schedule and program and also to arrange fund required according to the programming.
7. To justify the investment from benefit cost ratio. (For ideal investment, this ratio should be more than one).