S01E02 Cost Estimating Techniques

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  • เผยแพร่เมื่อ 3 ม.ค. 2025

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  • @paulsaimon13
    @paulsaimon13 3 ปีที่แล้ว +1

    nice presentation👏👏 salamat po sir🍻

    • @onsilversscreen6920
      @onsilversscreen6920  3 ปีที่แล้ว +1

      Thanks 🍻🍻🍻

    • @paulsaimon13
      @paulsaimon13 3 ปีที่แล้ว

      @@onsilversscreen6920 sir, please clarify if the estimating techniques you've discussed could be an answer to APC interview, thank you in advance.

    • @onsilversscreen6920
      @onsilversscreen6920  3 ปีที่แล้ว

      Hi @paulsaimon13, the estimating techniques discussed is what we used in practice. As for the answer to APC interview, it will largely depend on how the question is framed.

  • @imrajahmedpunekar1194
    @imrajahmedpunekar1194 3 ปีที่แล้ว +1

    Excellent Sir..

  • @sujith25in
    @sujith25in 8 หลายเดือนก่อน

    I just found your channel, and it is very informative. You are not uploading any videos lately. I hope you are doing well. If possible, please upload more videos. Thanks.

  • @sphesihlembatha4884
    @sphesihlembatha4884 2 ปีที่แล้ว

    best channel🙌🏾🙌🏾

  • @boubkerbakz420
    @boubkerbakz420 4 ปีที่แล้ว

    Very interesting course. Thanks a lot!

  • @ClajieKaBlagz
    @ClajieKaBlagz 4 ปีที่แล้ว

    Thanks for sharing

  • @bobbyfamisan8015
    @bobbyfamisan8015 3 ปีที่แล้ว +1

    Sir Silver, isn't it difficult to evaluate the cost when using Vendor Bid Analysis given no BoQ will be provided to the tenderers during bidding? Usually, the tender returns will not be apples to apples.

    • @onsilversscreen6920
      @onsilversscreen6920  3 ปีที่แล้ว +1

      Hi Bobby, there are several methods to analyze tender returns. In this case the offer will be scored based on the quality attributes. You may want to check S02E09 of my video for more information about tender analysis.

    • @bobbyfamisan8015
      @bobbyfamisan8015 3 ปีที่แล้ว +1

      @@onsilversscreen6920 thank you Sir. God Bless.

  • @redkitchen5913
    @redkitchen5913 7 หลายเดือนก่อน

  • @edrikeandfamilyadventure
    @edrikeandfamilyadventure 4 ปีที่แล้ว

    Sir, in what cost estimating technique belongs to the Bill of Quantity (fully priced)? Is it on Bottom-up? Thanks

    • @onsilversscreen6920
      @onsilversscreen6920  4 ปีที่แล้ว +2

      Hi Marvin,
      Do note that Quantification and Costing are two different activities carried out to determine the cost of the works/project. Allow me to address your question by breaking it down into sub-topics:
      1. Quantification (for the purpose of BOQ preparation):
      Whether you are preparing a Bill of Absolute Quantities or Bill of Approximate Quantities, the quantification process are to be carried out by means of measurement (either manually or electronically), counting or approximation from the available data/information that you have (see my S01E01 video). The difference between these two types of BOQ’s are the accuracy of quantification process and its contractual application.
      2. Costing of Works.
      My recent video (S01E02) is about cost estimating techniques. If you noticed, you can provide high level costing without the aid of quantification process that is through analogous or parametric estimating.
      On a detailed level of cost estimating, quantification process and costing techniques are to be paired in order to come up with a cost. Again, depending on the accuracy that you wanted to achieve, the rates to be applied to your estimated quantity can be obtained from either one or a combination of costing techniques mentioned in my video (e.g using your historical data, using cost publications, vendor bid analysis, etc.). Another technique is what we commonly called using a built-up rates but this can also be classified as bottom-up cost estimating (as you are estimating the cost from the lowest identifiable item, e.g. material + labour + equipment + O&P + etc.).
      In summary, you can combine several techniques to prepare BOQ as well as determining the rates to be used for costing of works. I will discuss more about BOQ (as I have already given you a sneak peak on BOQ preparation😉😉) in the next season where I will talk about Procurement and Tendering, please watch out for it. Hope that the above explanation could help. Cheers!!!

    • @edrikeandfamilyadventure
      @edrikeandfamilyadventure 4 ปีที่แล้ว

      @@onsilversscreen6920 Understood Sir. Buti nalang natanung ko dito, kala ko pareho lang, sir baka may sample panel questions ka jan for AIQS? Core II (Procurement&tendering) and Core III (Contract Admin), first salang ko sa panel interview. Salamat

    • @onsilversscreen6920
      @onsilversscreen6920  4 ปีที่แล้ว

      Sorry Marvin wala ako nyan.