File Name: estimating and costing in hindi.zip
The Estimating Costing Notes Pdf — EC Notes Pdf book starts with the topics covering General items of work in Building, Detailed Estimates of Buildings, Earthwork for roads and canals, Rate Analysis, Reinforcement bar bending and bar requirement schedules, Types of contracts, Valuation of buildings, Standard specifications for different items of building construction, Etc. General items of work in Building — Standard Units Principles of working out quantities for detailed and abstract estimates —Approximate method of Estimating. Earthwork for roads and canals. Standard Schedule of rates and standard data book by public works department 2.
A cost estimate is the approximation of the cost of a program, project , or operation. The cost estimate is the product of the cost estimating process. The cost estimate has a single total value and may have identifiable component values.
A problem with a cost overrun can be avoided with a credible, reliable, and accurate cost estimate. A cost estimator is the professional who prepares cost estimates. There are different types of cost estimators, whose title may be preceded by a modifier, such as building estimator , or electrical estimator, or chief estimator.
Other professionals such as quantity surveyors and cost engineers may also prepare cost estimates or contribute to cost estimates. The U. Government Accountability Office GAO defines a cost estimate as "the summation of individual cost elements, using established methods and valid data, to estimate the future costs of a program, based on what is known today".
The GAO reports that "realistic cost estimating was imperative when making wise decisions in acquiring new systems. A cost estimate is often used to establish a budget as the cost constraint for a project or operation. In project management , project cost management is a major functional division. Cost estimating is one of three activities performed in project cost management. In cost engineering , cost estimation is a basic activity.
A cost engineering reference book has chapters on capital investment cost estimation and operating cost estimation. The fixed capital investment provides the physical facilities. The working capital investment is a revolving fund to keep the facilities operating. In system, product, or facility acquisition planning, a cost estimate is used to evaluate the required funding and to compare with bids or tenders.
In construction contracting, a cost estimate is usually prepared to submit a bid or tender to compete for a contract award. In an attempt to manage liability risk, some firms avoid the use of the word estimate and instead refer to the estimate as an "Opinion of Probable Cost.
Various projects and operations have distinct types of cost estimating, which vary in their composition and preparation methods. Some of the major areas include:. These correspond to modern published classes 5, 3, and 1, respectively. Department of Energy and many others use a system of five classes of estimates:.
Methods used to prepare the estimates range from stochastic or judgment at early definition to deterministic at later definition. Some estimates use mixed methods.
Estimate quality refers to the delineation of quality requirements for the estimate. These requirements are set out in accordance with official quality assurance standards. There may also be other expectations for the estimate which are not specific requirements, but may affect the perceived quality of the estimate.
Published quality requirements generally have to do with credibility, accuracy, confidence level, precision, risk, reliability, and validity of the estimate, as well as thoroughness, uniformity, consistency, verification, and documentation.
The bidder ultimately will go out of business; the only question is how long will it take. Since a cost estimate is the approximation of the cost of a project or operation, then estimate accuracy is a measure of how closely the estimate is able to predict the actual expenditures for the project or operation.
This can only be known after the project is completed. If the project ended up having a different scope or conditions, an unadjusted computation does not fairly assess the estimate accuracy.
Predictions of the estimate accuracy may accompany the estimate. Typically this is expressed as a range higher or lower as compared with the point estimate with an expected probability that the actual cost will fall in the range.
The accuracy of an early estimate relates to the estimate quality. Factors affecting the quality of the estimate include the people who prepared the estimate, how the estimate was prepared, and what was known about the project. High-quality cost estimates can be produced by following a rigor of 12 steps  outlined by the U. Detailed documentation is recommended to accompany the estimate.
Therefore, a good cost estimate—while taking the form of a single number—is supported by detailed documentation that describes how it was derived and how the expected funding will be spent in order to achieve a given objective. Additional documentation may accompany the estimate, including quantity takeoff documentation and supporting calculations, quotes, etc.
Although the pursuit of cost estimate accuracy should always be encouraged, a study in found that the estimates used to determine whether important infrastructure should be built were "highly and systematically misleading. A contingency may be included in an estimate to provide for unknown costs which are indicated as likely to occur by experience, but are not identifiable.
When using an estimate which has no contingency to set a budget or to set aside funding, a contingency is often added to improve the probability that the budget or funding will be adequate to complete the project.
See cost contingency for more information. The estimate or budget contingency is not intended to compensate for poor estimate quality, and is not intended to fund design growth, owner changes, or anything else unrelated to delivering the scope as defined in the estimate documentation.
Generally more contingency is needed for earlier estimates due to the higher uncertainty of estimate accuracy. Estimating methods may vary by type and class of estimate.
The method used for most definitive estimates is to fully define and understand the scope, take off or quantify the scope, and apply costing to the scope, which can then be summed to a total cost. Proper documentation and review are also important. Pricing transforms the cost estimate into what the firm wishes to charge for the scope. Early estimates may employ various means of cost modeling. The basic characteristics of effective estimating include: clear identification of task, broad participation in preparing estimates, availability of valid data, standardized structure for the estimate, provision for program uncertainties, recognition of inflation, recognition of excluded costs, independent review of estimates, and revision of estimates for significant program changes.
These best practices represent an overall process of established, repeatable methods that result in high-quality cost estimates that are comprehensive and accurate and that can be easily and clearly traced, replicated, and updated.
Tools that may be part of costs estimation are cost indexes. These factors promote time adjustment of capital costs, following changes in technology, availability of materials and labor, and inflation. Estimates for the cost of facility construction are a major part of the cost estimate domain.
A construction general contractor or subcontractor must normally prepare definitive cost estimates to prepare bids in the construction bidding process to compete for award of the contract. Although many estimators participate in the bidding and procurement processes, those are not a necessary function of cost estimate preparation.
Earlier estimates are prepared by differing methods by estimators and others to support the planning process and to compare with bids. One way to make those estimates is by determining the resources needed e.
One advantage of making estimates in this way is that it allows for the segregation of quantities and costs. This way they can be updated separately as new information becomes available. They can also be tracked separately allowing decision makers to make better decisions about the project during its conceptual phase. A definitive estimate is prepared from fully designed plans and specifications or nearly so , preferably what are called contract documents CD.
The standard method is to review and understand the design package and take off or perform a quantity survey of the project scope by itemizing it into line items with measured quantities.
RSMeans refers to this as, "Scope out the project," and, "Quantify. The ASPE proposes a best practice standard method for the quantity survey. Then costs are applied to the quantified line items. This may be called costing or pricing. In estimating for contracting, the cost is what something costs you to build, and price is what you charge another party for building it. RSMeans refers to this as, "Price the quantities.
This format is illustrated in the handwritten spreadsheet sample. For labor, the estimator should, "Determine basic production rates and multiply them by the units of work to determine total hours for the work. The costs which are applied to the line-item quantities may come from a cost book either internal or external or cost database. For construction contractors or construction managers it is important to track and compile past data of trends, completed projects, production factors, equipment changes, and various labor markets.
The labor requirements are often the most variable and are a primary focus of construction cost estimators. The labor hours required to construct each installation item are calculated by using a man-hour rate times the take-off quantity a similar method is to divide the take-off quantity by the production rate. Many estimators use a man-hour norm reference for standard man-hours and apply an adjustment factor for project or task conditions, location, methods, equipment, labor skill, etc.
Direct costs are itemized for all necessary parts of the project. Direct costs are all of the costs which can be attributed directly to the project. Direct costs include costs for general requirements Division 1 of MasterFormat , which includes such items as project management and coordination, quality control , temporary facilities and controls, cleaning and waste management. Usually, a subtotal of total direct costs is provided in the estimate.
Provisions are made for Indirect costs in addition to the direct costs. Indirect costs include overhead , profit , sales or use taxes, payment and performance bonds , escalation , and contingency. Profit is cost to the buyer, but is not a cost to the provider, rather a projection of anticipated income.
A well documented cost estimate includes a Basis of Estimate BOE , which describes the scope basis, pricing basis, methods, assumptions, inclusions, and exclusions. An order-of-magnitude estimate is prepared when little or no design information is available for the project. It is called order of magnitude because that may be all that can be determined at an early stage. In other words, perhaps we can only determine that it is of a 10,, magnitude as opposed to a 1,, magnitude.
Various techniques are employed for these estimates, including experience and judgment, historical values and charts, rules of thumb, and simple mathematical calculations. This involves taking the known cost of a similar facility and factoring the cost for size,  place, and time.
Cost modeling is another common technique. In cost modeling the estimator models the various parameters of the facility and applies costs to the derived scope. Building estimators or architects may use the Uniformat system of breaking down the building into functional systems or assemblies during the schematic design SD phase of planning and design. From Wikipedia, the free encyclopedia. This article contains too many or overly lengthy quotations for an encyclopedic entry.
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List of ebooks and manuels about Estimating and costing b n dutta book in hindi. Estimating Costing A text book o n Estimating, Costing and Accounts-D. Estimating and Costing in civil engineering theory and practice -by B. Dutta 5. Cost Estimating, 2nd Editio n by Rodney D. Dutta, UBS publishers,
A cost estimate is the approximation of the cost of a program, project , or operation. The cost estimate is the product of the cost estimating process. The cost estimate has a single total value and may have identifiable component values. A problem with a cost overrun can be avoided with a credible, reliable, and accurate cost estimate. A cost estimator is the professional who prepares cost estimates.
Dutta — The book is complete in all respects in theory and practice, and covers the syllabi of degree, diploma, centificate and draftsman courses. It is based on the departmental practice and I. I specifications. Technical data, tables, conversion tables and other information of practical nature are all given in the books. Besides these, the book contains a number of drawings and plates of practical nature, which would be useful for civil engineering, drawing and designing. In addition to estimating, costing, analysis or rates, specifications, etc. As a reference book, it is a lifelong companion.
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Solved examples with detailed answer description, explanation are given and it would be easy to understand. Here you can find objective type Civil Engineering Estimating and Costing questions and answers for interview and entrance examination. Multiple choice and true or false type questions are also provided. You can easily solve all kind of Civil Engineering questions based on Estimating and Costing by practicing the objective type exercises given below, also get shortcut methods to solve Civil Engineering Estimating and Costing problems. A portion of an embankment having a uniform up-gradient 1 in is circular with radius m of the centre line. If the height of the bank is 1 m at the lower end, and side slopes , the earth work involved.
The book is for students who are doing their 8th and 6th semester in B. These are students who are specializing in the field of Civil Engineering. About Dutta. N Dutta. His expertise lies in the field of Civil Engineering. Certified Buyer , Srinagar. Certified Buyer , Cuttack.
After reading this article you will learn about:- 1. Meaning of Cost Estimation 2. Constituents of Estimated Cost 3.
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