Types of Detailed cost estimate
Types of detailed cost estimate are following:
- Detailed/item rate estimate.
- Revised estimate.
- Supplementary estimate.
- Supplementary revised estimate.
- Annual repair and maintenance estimate.
Detailed cost estimates
Detailed cost estimates are prepared carefully. These calculate in detail the cost of various items work that constitutes the whole project. Detailed estimates are done when the detailed working drawings are prepared along with specifications. If there is any mistake in rough cost estimate, then it will eliminate in detailed cost estimates.
These are then submit to the competent authority for obtaining technical sanction. The whole project is divided into different items of work or activities. The quantity of each item will be calculated from drawing as accurately as possible. This procedure is known as taking out quantities or quantities take off.