3. Estimating Construction Costs

3.1 Types of Estimates

3.2 The Preparation of Estimates

3.2.1 Entering Unit Costs

3.2.2 The Extension of Costs

3.2.3 Totalling

3.2.4 Calculation of the 'Contigency Sum'

3.2.5 Addition of Other Items

3.3 Obtaining Current Cost Figures

3.3.1 Recent Tender Prices

3.3.2 Cost Files

3.3.3 Publications Listing Current Unit Rates

3.3.4 Actual Costs of Previous Works

3.3.5 Calculation form First Principles

3.4 Preliminary Investigations

3.4.1 Feasibility Studies

3.4.2 Cost-Benefit Analyses

3.4.3 The Site Investigation

3.4.4 Proposed Construction Methods

3.5 Material Costs

3.5.1 Obtaining Current Prices

3.5.2 Availability of Supplies

3.5.3 Rise and Fall of Material Costs

3.6 Labour Costs

3.6.1 Rise and Fall of Labour Costs

3.6.2 Loadings Applied to Wage Rates

3.7 Plant Costs

3.7.1 Owning Costs

3.7.2 Operating Costs

3.7.3 Total Hourly Costs

3.7.4 The Hire Rate

Page last modified 25 June 2002.