PRE CONTRACT COST ESTIMATE

In the construction industry, pre contract cost estimates is a vital management

process to estimate the overrun cost of project and gets maximum return to the
client within agreed budget. It is prepared for a building;s preliminary cost
estimates The consultant quantity surveyor will prepare and submit the
preliminary cost estimates together with preliminary design and layout plan to
the Employer Department for approval.
The approximate quantities is a method that give an accurate estimate roughly
as it indicate measurement of quantity as an list of material item that can be
combined with set measurement for some items. Besides that, Preliminary and
Contingences item will be measured as additional percentage to the estimate
done. However, this method need to have complete information such as
specification, sketch plan, and current price either taken from the rate of the
material price or analysis rate prices that need t get before.
The benefits of this pre contract cost estimate is the quantity surveyor will
prepared the appropriate measurement to the design and specification purposed
by the client.Next, the elemental basis of the quantities would ease the alteration
design where it is necessary.