ABSTRACT
After reading this chapter, you should have an understanding about the principles and practice of pre-tender price estimating as used in the construction industry. You should be able to:
measured quantities ■■ assess levels of accuracy and consistency ■■ prepare an estimate with supporting documentation
14.1 INTRODUCTION
One of the first questions asked by a client who wants a building or structure erected is ‘How much will it cost?’ If the client is wise, the next question will be ‘How accurate is this figure? The purpose of a pre-tender estimate is to provide an indication of the probable costs of construction. This will be an important factor to consider in the client’s overall strategy of the decision to build. The estimate will also provide the basis for his budgeting and control of the construction costs. During the project’s development and construction phases this estimate may be reviewed and revised many times.
