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Topic : Construction Project Management
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Started by : M NITIN SHENOY, PMP, IPMA-D, CEng MICE, Manager   03 13 2009 11:36:50 +0000
Industry : ConstructionFunctional Area : Project Management(Technology)
Activity:  19 views;  last activity : 07 06 2010 20:18:09 +0000

There are various cost estimation techniques available in literature as well as practice.

Kindly bring out the most widely used cost estimation techniques with its merits and demerits if any.

 
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1 Item Rate Analysis...!!

Item Rate Analysis...!!

idea posted by M NITIN SHENOY, PMP, IPMA-D, CEng MICE Manager

A traditional techniques used predominantly in the construction field by contractors, estimators, government concerns etc.

In this technique we boil down to the details of cost breakup like:

1. L -  Labour -  Market Rate, Productivity

2. M -  Material -  Market Rate, Unit Consumption, Escalaltion, Wastage

3. P - Plant -  Hirec Charges, Consumables, Spares, Repair & Maintenance, Operator charges

4. Sc - Specialized works - rely on market quotes as such

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