# Estimation and Costing in Construction Engineering

**What are Estimation and Costing?**

Estimating and Costing are one and the same things. The estimate is defined as the process of calculating or computing the various quantities and the expected cost spend on a particular work or project.

The main objective of an estimate is to enable one to know the probable cost of the work before the completion of the project. If the estimate is prepared carefully and correctly there will not be much difference between estimated and actual cost.

**Importance Estimation and Costing**

It is necessary for fixing the budget for the proposed project

It helps for calculating the required quantities of materials and laborers for the project

It is required to draw up a work schedule

It is also helpful to check the works done by contractors during and after the execution

It is required for preparing tenders for the project

It is necessary for the valuation of land and building

**Estimation and Costing Requirement**

To estimate the probable cost of the work

To find the various types and quantities of material required

To find the various categories and quantities of labors required

To give an idea of the time required for the completion of the work

To help in fixation of standard rent and valuation of the project

**Methods of Estimation **

Centerline method

Crossing Method

Out to Out and In to In (Long wall and short wall) Method

Bay Method

**Types of Estimation**

Preliminary or rough estimate

Plinth area estimate

Unit rate estimate

Cube rate estimate

Item rate estimate

Detailed estimate

Revised estimate

Supplementary estimate

Annual repair estimate and annual maintenance estimate

**Conclusion**

Hence estimation and costing help to work out the approximate cost of the project in order to decide its feasibility with respect to the cost and to ensure the financial resources.

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