The funds needed to create construction products represent the cost of construction. To calculate this value, special documents are developed - construction estimates, in which the estimated cost is calculated . Estimated documentation reveals in detail all the construction costs. On its basis, a contract is concluded.
Compilation of construction estimates takes place, it can be said, in 3 stages:
- Preparation of local estimates.
- Drawing up object estimates.
- Consolidated estimated cost of construction.
A local estimate is the initial estimate document, which provides calculations of the costs of a specific type of work. On the basis of this particular type of documents, as a result, a consolidated estimate calculation is formed. To compile this business paper, the so-called TERs (territorial unit prices) are used, as well as estimated standards (aggregated), which allow you to calculate everything as accurately as possible in a particular construction region.
A local estimate can be made using two different methods: resource and base-index. Using the resource method, the construction cost is calculated at current prices. In the base-index approach, the calculation of value occurs due to specially developed indices created in order to recalculate the estimated cost from the base to current prices. Each year, the indices change, so the cost is calculated as accurately as possible.
The object estimate consists of local estimates grouped by the following works and costs:
• construction works;
• assembly;
• equipment, furniture, inventory;
• other work.
Calculation of object estimates is made by summing local at current or basic prices and compiled for the whole object. For its calculation, enlarged standards and indicators of analog objects in value terms are used. Contract prices for the object are formed on the basis of this type of documentation.
Consolidated estimate calculation is a document establishing the estimated cost of construction for all objects included in the project. Based on it, a decision is made on financing of construction.
Consolidated estimates determine the effectiveness of the design decision. When calculating the cost of housing or industrial construction, it is divided into chapters, at the end of which, starting from the eighth, the final calculation amounts are given. From it, from all object estimates, data is grouped by the same work.
You should also be aware that a consolidated estimate should be made as a whole for the construction, regardless of the number of participating contractors. An explanatory note is attached to it with all the information about the construction: where it will take place, the standards adopted for the preparation of documentation, and the expected profit.
Compilation of all these documents can be carried out both on paper (handwritten) and in electronic form (in Excel or special software products). For example, GrandSmeta or Estimated Wizard is a worthy solution.
Estimated documentation should be drawn up in the prescribed manner, regardless of how the construction is carried out - under a contract or in an economic way.