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Estimation and Costing - 1
Estimation and Costing - 1
By
PRASAD GANPULE
Introduction :
The word ‘estimate’ is derived from Latin word
‘Estimatus’. The meaning of this word is to get the
approximate judgment.
Material cost
Labour cost or Workmanship cost
Overheads and Profit
The systematic procedure of working out the
quantities based on given drawing, designs and
specifications with the help of simple mathematical
formulae is known as ‘Quantity surveying’.
The quantities always studied in
three stages:
Approximate Quantities – Based on preliminary
drawings and with certain
assumptions.