TOPIC 6: DETAILED COST ESTIMATING

What is Unit-Price/Line-Item Estimating?

Breaking the project into individual items and pricing each one.

Basic Unit-Price formula?

Quantity × Unit Price = Cost.

What is Area Method?

Estimating cost using floor area and cost per square meter.

Area Method formula?

Estimated Cost = Floor Area × Cost per m².

What is Volume Method?

Estimating cost using building volume and cost per cubic meter.

Volume Method formula?

Estimated Cost = Building Volume × Cost per m³.

What is Functional Unit Method?

Estimating cost using a useful unit such as beds, rooms, or seats.

What is Elemental Cost Method?

Estimating cost by major elements like structure, finishes, and MEP.

What is Assembly/Component Method?

Estimating cost by assemblies such as walls, roofs, floors, and ceilings.

What is Detailed Quantity Takeoff?

Measuring detailed quantities and multiplying them by applicable unit costs.

Which estimating method is most detailed?

Detailed Quantity Takeoff.

What is the general rule about estimate detail?

More project information allows a more detailed estimate.

What is Elemental Estimating mainly based on?

Major building elements or systems.

What is Assembly Estimating mainly based on?

Building assemblies such as walls, floors, roofs, and ceilings.

What is the purpose of detailed estimating?

To produce a more accurate cost and support cost control.