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Level 1

What is estimating and costing? and also make related some problems.

1 ✍ Answer

  1. This answer was edited.

    The exact number of candies in this jar cannot be determined by looking at it, because most of the candies are not visible. The amount can be estimated by presuming that the portion of the jar that cannot be seen contains an amount equivalent to the amount contained in the same volume for the portion that can be seen. Estimation (or estimating) is the process of finding an estimate, or approximation, which is a value that is usable for some purpose even if input data may be incomplete, uncertain, or unstable. The value is nonetheless usable because it is derived from the best information available. Typically, estimation involves “using the value of a statistic derived from a sample to estimate the value of a corresponding population parameter”. The sample provides information that can be projected, through various formal or informal processes, to determine a range most likely to describe the missing information. An estimate that turns out to be incorrect will be an overestimate if the estimate exceeded the actual result, and an underestimate if the estimate fell short of the actual result.(Contrast with prediction.)

    You can try some of the following best books for understanding more.

    In India B.N.DUTTA,B.N SURESH and CHAKRABARTHY are Indian authors book highly followed.

    These are some of the best books for Estimating and Costing :-

    1. Quantity Surveyor’s Pocket Book – By Duncan Cartlidge

    The second edition of the Quantity Surveyor’s Pocket Book is fully updated in line with NRM1, NRM2 and JCT(11), and remains a must-have guide for students and qualified practitioners. Its focussed coverage of the data, techniques, and skills essential to the quantity surveying role make it an invaluable companion for everything from initial cost advice to the final account stage

    2. Estimator’s General Construction Man-Hour Manual -By John.S Page

    This manual provides the reader with an accurate and convenient method for estimating direct labor for general contrsuction work for any given system, plant, or location. Though this book, the reader has a reliable process of obtaining and streamlining an efficent model of operation.

    3. Estimating and Costing (For the course of construction technology) – By B.N. Suresh

    Estimating and Costing by B.N. Suresh is a useful book for academic level quantity surveying readers. The book has been written for a technical institute syllabus in India. Book covers all the chapters as a foundation course of estimating and costing such as measurement of material and works, Types of Estimations Estimating for different components of building and Rates analysis for construction Projects. Every subject is carefully described and mostly chapters are covered with detail examples by drawings and estimation sheets. A really beneficial guide for beginners level students of Estimating and Costing.

    4. Estimating and Tendering For Construction Work – By Martin Brook

    The new and updated edition of a well-established textbook addresses each of these developments in turn, placing them firmly in the context of a thorough and easy to understand introduction to the roles of the estimator in preparing and winning tenders.

    5. Estimation,Costing and Valuation – By S.C. Rangwala

    One of the best books of estimation, costing and valuation by s.c.rangwala he has provided accurate and convenient method for estimating.

    This Link is very useful to download free books for estimating and costing subject.



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