Remodeling of house is an important part of today’s life. As we love to change the look of our house frequently it has to done with proper planning. Estimating the cost of the home improvement with the help of contractors is the easiest way to figure the cost of your job. Essentially, all you have to do is to ask several contractors to give you bids for the job. The contractors will be glad to give you estimates or quotes for the prices of labor and materials to complete your project. This is a simple process, but there are some aspects of this type of estimating that can skew the numbers. If you want accurate figures, you should follow some basic rules. What are those rules. Let's find out.
Plans
If you are going to allow contractors to do your job for you, a set of plans for what you want done is an absolute necessity. Even if the job is a small one, you will want to give each contractor bidding the work a set of plans. Without the plans the contractors cannot possibly bid the job competitively.
The plans you issue to contractors don't have to be elaborate, but they must detail all important aspects of the job. A rough sketch of what you want done will probably be adequate, but don't attempt to estimate your job with contractors until you have some type of plans to hand out.
Specifications
Specifications are as important, if not more important, than plans when working with contractors. When you put your job out to bids, you want all contractors pricing the same materials and services. This is only possible with a set of plans and a detailed set of specification.
It is not enough to list your specifications casually. You should not say that you want a new toilet, a new lavatory, and new faucets for the lavatory and bathtub. The specifications should include all technical data needed to identify the specific items you want. This information will normally include a model number, style, color, and similar information.
Showing posts with label conceptual estimating. Show all posts
Showing posts with label conceptual estimating. Show all posts
Tuesday, February 22, 2011
Thursday, June 17, 2010
Conceptual Estimating is ideal for project feasibility study
Owing to high number of design constraints and intricacy of construction a system known as conceptual cost estimation (also referred to as predesign cost estimation) has been developed to conceptually estimate the costs for construction industries.
The project team members develop the conceptual estimate during conceptual design stage (generally before the construction drawings and specifications are available) and create a preliminary baseline cost estimate range based on the activities, materials and other sources of expenditure for designing and constructing a specified facility.
A well developed conceptual estimate is based on the study of historical project cost factors and result in forecasting rapid estimates & accurate cost for project feasibility studies, budgeting and financing the finished products, financial evaluation of a number of alternative projects etc..
The system is very useful for construction industries, chemical industries, refinery industries, industrial plants, engineering firms and operating companies as there is a strong requirement to generate precise cost estimates for new plants, major equipment acquisitions or upgrades, large maintenance projects, new buildings, etc.
Conceptual estimating also provides great assistance to the structural engineering sectors as it looks at the performance specifications and footprint of a structure and creates a budget for all of the activities regarding steel in the structure including detailing, fabricating, painting, transporting and erecting.
There are various techniques available for conceptual cost estimation. Regression analysis, simulation, and neural networks are mostly recognized techniques that are used all through the initial project stages.
In regression analysis one can estimate the project cost with a regression model as well as a number of independent variables. Here, cost-conscious models were considered for both regression and neural network modeling. A cost-conscious model seems to a model that fits the data adequately without using any unnecessary parameters.
Rajib Dey
The construction estimating
The project team members develop the conceptual estimate during conceptual design stage (generally before the construction drawings and specifications are available) and create a preliminary baseline cost estimate range based on the activities, materials and other sources of expenditure for designing and constructing a specified facility.
A well developed conceptual estimate is based on the study of historical project cost factors and result in forecasting rapid estimates & accurate cost for project feasibility studies, budgeting and financing the finished products, financial evaluation of a number of alternative projects etc..
The system is very useful for construction industries, chemical industries, refinery industries, industrial plants, engineering firms and operating companies as there is a strong requirement to generate precise cost estimates for new plants, major equipment acquisitions or upgrades, large maintenance projects, new buildings, etc.
Conceptual estimating also provides great assistance to the structural engineering sectors as it looks at the performance specifications and footprint of a structure and creates a budget for all of the activities regarding steel in the structure including detailing, fabricating, painting, transporting and erecting.
There are various techniques available for conceptual cost estimation. Regression analysis, simulation, and neural networks are mostly recognized techniques that are used all through the initial project stages.
In regression analysis one can estimate the project cost with a regression model as well as a number of independent variables. Here, cost-conscious models were considered for both regression and neural network modeling. A cost-conscious model seems to a model that fits the data adequately without using any unnecessary parameters.
Rajib Dey
The construction estimating
Subscribe to:
Posts (Atom)