What is an English estimate?

In the construction of estimating work is indispensable. So do you understand the concept of budgeting yet? What is English budgeting? Meaning of budgeting. Tintucxaydung will help you answer questions through the article below.

What is an estimate?

Estimation is the estimated value of the work before construction. Estimates are made on the basis of the volume of jobs determined according to construction drawings or technical designs.

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Estimation is mainly used in the field of construction and when starting a project, an indispensable job is to make an estimate. Estimation in English is estimate and the estimator in english is cost estimator.

Purpose of budgeting

Help investors predict the amount of money to be paid to win the project, construction item as desired. It is also the basis for selecting contractors, negotiating contracts, approving investment projects, and is used as a basis for verification, settlement, etc.

Helps businesses estimate costs for items in advance

– Make an estimate to know the construction cost of the project.

It is the basis for conducting investment planning, persuading banks to provide loans and for investors and contractors to make plans.

– Serve as a basis for negotiating, signing contracts, and making payments when appointing contractors. Based on the estimation, it is possible to determine the price of the bidding package, the construction cost when bidding, the basis for calculating the economic and technical criteria.

– Through making an estimate, it is easier for investors to make investment plans and provide specific data to the bank when there is a need for a loan.

– Through the numbers, investors based on those bases to consider the cost of damage, the value of the work.

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Estimation is the basis to help investors and partners sign favorable contracts and settle payments after the project ends.

Make an estimate

When making a work estimate, the preparer needs to provide the items of the work that need to be budgeted in advance, specifically:

– Preparation of site leveling, construction drawings;

– Volume estimates;

– Calculation of unit prices;

– Price of building materials;

– Machine shift price;

– Labor wages;

– Summary table of cost coefficients.

Requirements for estimators

– Must be able to read drawings

Estimators need to have professional knowledge and qualifications related to the construction industry. Must know about materials used in construction works. Construction measures. In addition, they need to be aware of common precedent issues in the construction industry.

– Must have practical experience

Not only with the construction industry, but in any field, you also need knowledge and practical experience related to that industry. For those with more experience, it is easier, more detailed and careful to make estimates and collect data.

– Know how to measure, analyze, judge

Estimators need to be familiar with standard and commonly used methods of budgeting. Proposing legal documents and documents related to cost estimates. In addition, you need to be able to analyze data to execute projects.

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Besides, a person doing this job needs to be proficient in computers and apply technology to determine volume, present drawings, illustrations, …

The above is quite complete information about what is the estimate? What is an English estimate?? And the purpose of the estimate that tintucxaydung wants to provide to readers.

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