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Types of Cost Estimates In Construction

 Types of Cost Estimates in Construction A cost estimate is predicted expenditure of a project which is generally prepared before the project is taken up. It is prepared in different types based on the requirement of project.The construction cost estimates can be prepared either in a detailed manner by taking into consideration item by item or can be calculated approximately without going much into the details. Based on these criterias,  there are mainly 8 cost estimates followed in construction Preliminary Cost Estimate Plinth Area Cost Estimate Cube Rate Cost Estimate Approximate Quantity Method Cost Estimate Detailed Cost Estimate Revised Cost Estimate Supplementary Cost Estimate Annual Repair Cost Estimate 1. Preliminary Cost Estimate The preliminary cost estimate is also called an  abstract cost estimate or approximate cost estimate or budget estimate.  This estimate is generally prepared in initial stages to know the approximate cost of the project. By t
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