Define  Estimate ?


  An estimate ia an anticipated or probable cost of work,  which is usually prepared before the construction is taken up. Before undertaking any work or project it is necessary to know its probable cost. An estimate prepared by calculating the quantity required and then calculating the cost of available rates, to get the expenditures likely to be incurred in the construction of the work. 



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More Questions from Quantity Surveying and Contracts Management Module 5

Performance Guarantee 


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Types of Estimate ​​​​​​


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Explain  Measurement and Payment 


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Liquidated Damages 


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Suspension of Works 


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Methods of Valuation 


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Comparison between market value and book value 


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