Introduction to cost estimation methods in construction | Estimating project costs
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- เผยแพร่เมื่อ 25 ก.ค. 2024
- In this video, you will get introduced to cost estimation methods in construction projects, and you will understand more about the difference between the definitive and conceptual estimation techniques. This is important since proper cost Estimation is the first step towards a successful construction project.
If you are looking for detailed guide and learning about project estimation and costing, please give our online course below a try:
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Thank you so much for this presentation, it has really equipped me in sharpening my estimating skills as a Junior Quantity Surveyor & Estimator. Love and light from South Africa. 🙏
Thank you for watching brother and wish you all the best. 🙏
Angzama bafo ngespani. I have national diploma in building
Great video and love your explanation and concept . Love to see more videos in coming days . Thanks
Great presentation once again. In my days as a student, I would have found so much value in this channel and I do even now. I hope those still studying or have an interest in being Quantity Surveyors appreciate the great work you are doing.
Thanks a lot for your kind words and support 🙏👍. And much appreciate your valuable watching time. Your testimonial is a source of motivation and once again thank you for it ❤️. Wish you all the best.
thank you so much, this is so helpful and accurate!
I am a QS of 39 years practicing in the Seychelles Islands, with a BSc Degree from UK (1984), Greenwich University London.
I use about similar approaches and find the videos very interesting and picked up a few tips myself. I recommend them for those requiring guidance.
Best of luck and I’m honored to have you recommending CEP’s content. All the best 🙏👍
Well explained. Great job. Subscribed!
Thanks a lot
This is very informative Ahmed, thank you very much.
Thank you Sir Ahmed your explanation is very clear and practical, especially for me in the field of construction keep continuing this channel your helping inspiring estimator like me.
Thanks Ameera and wish you all the best in your career 🙂. Much appreciate your valuable support and watch time. Kind regards. 👍
You have done a great job by knowledge sharing those sessions .the way of your teaching is very impressive and highly organized.I learnt lot of things by your videos.
Good job....
All the time success with you..🙏
Thanks a lot for your valued feedback and much appreciate your time watching my content. I’m very happy you learned from my videos and wish you all the best 🙏🙂
Thanks dear Ahamed Adel I got studied and more information from this video. Please don't stop this.
I ask Duaa from Allah he want to give you good health and wealth
Thank you 🙏🙂. Wish you all the best inshallah. Appreciate your kind support 🙏👍
I understand your presentation very well thank you for such a clear delivery
Thank you Deidra, appreciate giving the time to watch the video ❤️
Thank you. very helpful
Wow.. what an amzing way to delivering lecture.. 👍👍
What a great teaching..Now I know better about estimating and the style you use in the table..Very helpful..
Thank you 🙏
I'm glad I found your channel. I hope rhis channel will continue
Thank you 🙏. Well I was away from TH-cam for sometime, but coming back strongly soon. All the best
I got lot of information which helps me clear my conception of estimating total project. Great lesson brother. I hope you will give more videos on estimate.
Thank you bro 🙂 wish you all the best
Thank you for sharing, very nice
Thank you for the explaination. It was really effective and helped me to improve my knowledge regarding the estimation.
I appreciated your effort to explain resource-oriented contractor's estimate vs. unit-based consultant's pricing approach. Looking back for the last 30 years, most of the innovations for estimating technology was really focused on quantity measurement, e.g. on-screen takeoff, bluebeam, Revit 3D model etc. But when it comes to pricing, while the math wasn't difficult, the calculation depends so much on the estimator's experience, judgment and effort to obtain the latest and the greatest prices. So correct me if I'm wrong, but I think Excel spreadsheet will still be used by every company (big or small) for quite some time, at least to price out the job.
Thank you for the support and valuable feedback 🙏. Regarding the feasibility of estimation using excel, I have seen many estimation softwares like bid bow and many others, but the easiest and the most available method to use is excel so far, and hence many companies are using it. But still using an estimation software with all data bases and all will of course save time and avoid excel mistakes and so on. So if you ask me I like both options as long as the result will be correct. And thank you again for raising this point 👍
Very informative & knowledgeable, i came here from your course at Udemy, unfortunately i was in middle of that course & i think udemy put it down from their platform😢 if you put here or their again your full course, it’ll be very helpful. Thanks again!!
Hats off you Sir, very needful information shared, keep sharing such things Allah bless you.!!
Thank you dear 🙏. Wish you all the best.
Wow! Ur explanation is comprehensive with ds content I'm eager to learn more
Glad to hear that. Wish you all the best :)
Very nice... You explained it very well.. Many Of my Queries Answered by you.. Appreciated
Thank you Imraj and appreciate your time watching this content.
Thank you sir. I got more important points that I was searching long time.
Great 👍. Wish you all the best 🙏
Thank you so much for your help ,it was very helpful 😊.
Thank you 😊 and wish you all the best
Very informative, thank you
Thank you for watching and valuable feedback 🙏👍
Amazing video. Thanks
Thanks a lot 🙏
Really superb explanations
Thank you and all the best 🙏😊
Nice Informative -
The video was very informative and your way of communication is very good..Thank you very much sir
Thanks a lot and wish you all the best 👍🙏
great. got a lot sir.
Great worked by u
Thank you 🙏😊
Tnxx sir for uploading new video... ❤️❤️👍👍
Thank you Aamir for your continuous support ❤️👍
Sir, best explanation 👌
Thank you 😊
Really Great sir i get to much information and knowledge. i really appreciate
It's my pleasure
Thank you very much. Great content! If you can provide the explained excel sheet we can get a better view on the context.
Hello Shaheel and thank you for watching. That is 6 hours content explained in details in our Detailed Cost Estimation for Construction Project online course.
cost-engineering-professional.teachable.com/p/detailed-cost-estimation-for-construction-projects
I found this to be very helpful
Great 👍 wish you all the best 🙂
Thanks for sharing excellent explanations. But vat and tax shall be included.
well explained 👍
Thank you 🙏😊
Very good and useful
Thank you
Wish I found this early would have avoided so many dead end jobs. keep up the good work. Sukr shadid min Junub Al Sudan
Thanks a lot and wish you all the best 🙏. Extended love to Janub Alsudan
Thankyou very much sir
Thank you 🙏🙂
Wonderful and very interesting episode. I have a suggestion can you have the materials explanation too
Of course 😊 I’ll do that and thank you so much for watching and for support 👍🙏
thanks for this informative vid, can u explain cash flow and its uses in the project in the next vid ?
Thanks Aikar, I’ll definitely do 👍
thank you for this detailed presentation...
could you please send the link to this excel sheet to us?
Thank you sir
Thank you Mohammed Makeen, appreciate your kind support ❤️
What a great presentation.....Please, how do i get more details on cost estimation, planning & scheduling?
Thanks a lot for watching and support. Subscribe to the channel and stay connected is the easiest way 😊
Thank you
Thank you Ella for watching and commenting
Great content thanks. Just to ask something; i think the cost here is based on manhours however due to schedule sequence, some of my workers could remain idle while still paying salary for them?(assuming having own work team)
Thank u for such informative video.... Can u please send the link to download the excel file ? Thanks
Thanks for the great explanation but I have a question in mind.
Is the rate breakdown analysis the same with quantity take off? Do you have a video talking about the quantity take off? THanks
Thank you for watching and for your support🙏. Sure, there is a complete playlist for quantity takeoff th-cam.com/play/PLX2TjdCS4FjR-Tji5s7cWLfesLCRRBY8M.html
After watching the playlist, if you feel you still need more information, then our construction takeoff and BOQ preparation course will be very helpful for you. You can find the link to the course in the description of any video 👍
Thank you Ahmed for your valuable help, Baraka Allah fik.
I am following along with you by implementing the same spreadsheets as you, I end up wondering how many lines would I have to work with in the Activity Manpower Cost sheet if I am required to do the same for an EPC project, about 3000 activities and about 200 work positions, that's about 600K lines of cost estimation for the only manpower scope!!! unless I am missing something.
Thank you for watching 👍and support. Some time when the project is huge traditional excel estimation doesn’t work. You might need to start looking into some ERP systems
@@CEPQS Yes! Thank god we got Primavera & MS Project 👌👌
الله يجعلها في ميزان حسناتك يا رب
Good explanation Ahmed , did I miss the cost of transporting materials in the building up of rates?
Very good, is this spreadsheet provided somewhere?
Hi Sir, how do you decide/come up on how long a project will last or take to be completed to avoid delay penalty? Could you please kindly do a video of this? Thank you
You have to prepare a program of works and update it weekly and monthly to identify delays and prepare mitigation plans if required. I personally have the theoretical knowledge of planning but not the practical one to be honest. Hence I explained the concepts in some videos here on the channel, but I can’t do primavera videos as it is not my core strength ☺️
This I appreciated. Where can I find a template?
where can I get a copy of the tables used in the video? thank you!
We need to follow BOQ or calculate separate each activities amount?
Well, it depends. If one BOQ item is more than 1 activity in the program, then in that case you split the BOQ amount from this item on the various program activities. If 1 BOQ item and 1 program activity, then same value :)
For cost estimation, you will estimate the costs for all the BOQ items, and if any item is missing, you will have to add it and estimate it.
Can you share one Electrical project quote format xl sheet for reference
If u will attach this document it will be better
Thank you for the valuable feedback 🙏👍
Can you upload the excel sheet?
@@jovin992 can be found in the cost estimation course. With complete details. 👍
Where is this course?
Will be nice if you show as how did you do your Excel formulas .
I am interested to join your cost estimation course
Hay quá
🙏👍
Amazing & informative. May I please get the templates you’re using if it’s possible. Even for a fee if they’re not free.
Thanks for watching and support and wish you all the best. This is the link to AA Cost Estimation Pro excel template: cost-engineering-professional.teachable.com/p/my-downloadable-219287
Thanks for the informative video. Can you tell in more detail about the calculation of materials for each type of work using this table as an example!?
Thanks a lot 😊, I started explaining the manpower in this video th-cam.com/video/M4EWSRz4Pc0/w-d-xo.html
@@CEPQS Thanks, I've watched the video. I meant how do you determine the list and consumption of necessary materials for each job, as well as their cost!?
@@SoulCafe7 this is a very big subject. If you need all the details of how to price a complete project BOQ including (materials, equipment, manpower and subcontractors), I have published an online course for that, and the link can be found in the description of any video in the channel. Cost Estimation course.
Primerva P6 . complete construction project step by step sample with all explain ( WBS obs activities resources cost etc ) A to Z .pls explain everything.
Details will explained in depth in our “planning and scheduling course” 😃 [not yet released]
Wonderful information dear can you share this sheet to me
❤❤❤
I m waiting for your new video
Soooooon 😃
can u provide this template
رجاءا بشمهندس ازاي اقدر اتواصل مع حضرتك لحضور دورة تدريبة مع حضرتك في cost estimation اكون شاكر لو ترسل لي رقم حضرتك
Dear please share these all estimated sheets with me
I WANT TO TAKE YOUR COURSES REGARDING PLANSWIFT , IS THERE ANY WAY OF CONTACTING YOU PRIVATELY .
Thank you for watching. Yeah sure, you can contact me at info@costengpro.com
@@CEPQS THE SITE PROVIDED IS BEING WORKED , WHICH MEANS I CANNOT GET IN TOUCH WTIH YOU UNTIL IT IS BEING WORKED ON
Not the site. Just mail me on “info@costengpro.com”
How can i find Construction estimator ?
This is an ongoing course on TH-cam:
COST ESTIMATION | How To Estimate The Cost Of Reinforced Concrete Structures Part 1
th-cam.com/video/ZPwkHBAWn6g/w-d-xo.html
Please can you share this excel sheet template that you are using to present😇
I showed how to prepare it in the video 😂. You have to try and get it done 👍. Believe me it is easy to give it ready, but you will learn when you do it yourself ❤️
@@CEPQS Thank you. Let me try🙌
Hello, im Study civil engineering in sonora Mexico, Just one semester to done mi carrer, and i want to be a cost engineering i like to usé the numbers, wat is possibilities to take a job in usa if i have a title of civil engineering in mexico
I think getting a reputable Master's degree in USA would help after you finish the current degree in Mexico, but still need sponsorship from the US employer.
More videos explanation in primerva full A to Z
I'm planning for this, however some restrictions are there on the Primavera, and I'll to find a work around ;)
Hi can I ask for your Excel BOQ?
Hello waldrys and thank you for watching. You may get this BOQ and a lot more by enrolling for one of our courses below.
@@CEPQS thank you, I just checked. And I love the price.
Can you share this excel?
the charts or table is not clear for good visibility
I’ll remake the video later 👍
A great Presentation. Could you please explain about the construction management? Because your presentation is very clear. And could you please send your email address also?
Will try my best to do a video on construction management 👍
I love your explanations but the problem here is that it's not clear I can't see the figures, you could help make more bolder so we can see it clearly, thanks
Thank you Emeka for watching and for the valuable feedback. I’ll make sure in the future that the figures will be visible. 🙏👍
I want to join your course. Please share your contact details
مصري؟
TLDR: Cost estimation in construction involves understanding overall project costs, using historical data and physical units, and factoring in various elements such as labor, materials, equipment, and overhead costs to arrive at accurate estimates.
00:00 🏗 Cost estimation in construction involves understanding overall project costs, using historical data and physical units, with conceptual and definitive methods for accuracy.
06:29 💰 Cost estimation in construction involves calculating the cost per hour and per day for labor, factoring in various elements such as basic salary, accommodation, and productivity.
11:29 🏗 Cost estimation in construction involves calculating the cost per unit for manpower and materials, including allowances for equipment and tools needed for installation.
15:21 🏗 Estimating project costs in construction involves considering material, equipment, manpower, and subcontractor costs, and factoring in allowances for potential additional expenses.
20:51 💰 Cost estimation in construction involves making assumptions and using individual price lists and labor productivity, resulting in different estimates, but all of which are correct, and the process involves adding percentages on top of the estimates to arrive at the total cost.
23:34 🏗 Cost estimation in construction involves accounting for site supervision, loading the cost of a full-time foreman onto a project, and distributing the cost of an engineer working on multiple projects, as well as calculating overhead costs based on total project value and monthly spend.
27:22 🏗 Project costs in construction are allocated based on percentage of total company work, with overheads calculated at 6-12% and contingencies accounting for unplanned risks, while also considering profit margins and negotiating to lower project costs.
33:39 🏗 Ask vendors and subcontractors for prices, check out the course for detailed cost estimation methods, and subscribe for more videos.
Friends, maybe you have an unnecessary, outdated, broken geodetic equipment, which I have given a new life to.
The video will be more useful if you could also share the excel so that viewers can learn and do it with you. I understand that you want to sell your course, but you are also making money from youtube. If you are trying to educate a wider group, some of which cant afford the course, then I think sharing the excel will be useful.
Hay quá
Thanks
Thanks for your knowledgeable videos sir, you are doing great... Kindly share or attach links for excel documents also.