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What is the correct sequence of preparing an estimate?

1) Detailed estimate

2) Approximate estimate

3) Supplementary estimate

4) Revised estimate

Estimate: An estimate is the anticipated or probable cost of work before the construction is taken up. It is the computation or calculation of the quantities required and expenditure likely to be incurred in the construction of a work.

The following are different types of Estimates :

  1. Preliminary or Approximate Estimate
  2. Plinth Area Estimate
  3. Cube Rate Estimate
  4. Detailed Estimate
  5. Supplementary Estimate
  6. Revised Estimate

Approximate Estimate: This is required to decide the financial policy and for administrative approval by the competent authority. This estimate should show separately the cost of land, the cost of each building, cost of the road, etc. A brief report with a site plan should also be submitted along with.

Plinth Area Estimate: This estimate is prepared on the basis of the plinth area of buildings i.e. plinth area of building x plinth area of rate. The plinth area should be taken for the roofed area and not for courtyards. This estimate is also approximate to know the cost beforehand.

Detailed Estimate: This estimate is an accurate one based on the plan and section of the building. The quantities of items under each subhead of work are calculated from the dimensions taken from the drawing and the cost of each item is worked out according to market rates and is totaled. A percentage of 3 to 5% is added for unforeseen things, changes in design, etc.

Supplementary Estimate:-  This is a fresh detailed estimate in addition to the original sanctioned estimate prepared when additional works are deemed necessary during the progress of work to supplement the original works. The abstract of cost should show the amount of the original sanctioned estimate as well as the supplementary amount for which sanction is required. For example construction of a generator room in the proposed office.

Revised Estimate:- When the sanctioned estimate exceeds by 5% either due to the rates being found insufficient or due to some other reasons, a fresh estimate is prepared which is called a Revised Estimate. A comparative statement on the last page of the estimate is attached giving therein the reasons for the increase in cost in the case of each item.