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A detailed estimate that is prepared when there is a requirement of additional work during the progress of the original work is known as:
- a)Annual repair cost estimate
- b)Revised cost estimate
- c)Approximate quantity method cost estimate
- d)Supplementary estimate
Correct answer is option 'D'. Can you explain this answer?
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A detailed estimate that is prepared when there is a requirement of ad...
Supplementary estimate
(i) It is a detailed estimate of additional work and is prepared when additional works or changes are required to supplement the original works, during the execution of work.
(ii) Then a fresh detailed estimate of additional works is prepared in addition to the original works.
(iii) The abstract should show the amount of the original estimate and the total amount including the Supplementary amount, for which sanction is required.
Revised estimate
It is a detailed estimate and is required to be prepared under any one of the following circumstances:
(i) When the original sanctioned estimate is likely to exceed by more than 5 %.
(ii) When the expenditure on work exceeds or likely to exceeds the amount of administrative sanctioned by more than 10 %.
(iii) If there is a change of rate or quantity of materials.
(iv) Major additions or alterations are introduced in the original work.
(i) It is a detailed estimate of additional work and is prepared when additional works or changes are required to supplement the original works, during the execution of work.
(ii) Then a fresh detailed estimate of additional works is prepared in addition to the original works.
(iii) The abstract should show the amount of the original estimate and the total amount including the Supplementary amount, for which sanction is required.
Revised estimate
It is a detailed estimate and is required to be prepared under any one of the following circumstances:
(i) When the original sanctioned estimate is likely to exceed by more than 5 %.
(ii) When the expenditure on work exceeds or likely to exceeds the amount of administrative sanctioned by more than 10 %.
(iii) If there is a change of rate or quantity of materials.
(iv) Major additions or alterations are introduced in the original work.
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A detailed estimate that is prepared when there is a requirement of ad...
Supplementary Estimate:
Definition:
A supplementary estimate is a detailed cost estimate that is prepared during the progress of the original work when there is a requirement for additional work beyond what was initially planned.
Purpose:
The main purpose of a supplementary estimate is to provide an accurate assessment of the additional costs that will be incurred due to the changes or additions to the original scope of work.
Preparation:
- The supplementary estimate is prepared by reviewing the new requirements, changes, or scope additions that have arisen during the course of the project.
- The estimate includes detailed calculations of the additional materials, labor, equipment, and other resources that will be needed to complete the extra work.
Approval:
Once the supplementary estimate is prepared, it is typically submitted to the client or project owner for approval before the additional work can proceed. This helps ensure transparency and agreement on the cost implications of the changes.
Documentation:
It is essential to document the supplementary estimate along with the original cost estimate and any other relevant project documents. This helps in maintaining a clear record of the project's financial status and changes throughout its lifecycle.
In conclusion, a supplementary estimate plays a crucial role in accurately assessing the additional costs associated with changes or additions to the original scope of work during a construction project. It helps project stakeholders make informed decisions and ensures transparency in project cost management.
Definition:
A supplementary estimate is a detailed cost estimate that is prepared during the progress of the original work when there is a requirement for additional work beyond what was initially planned.
Purpose:
The main purpose of a supplementary estimate is to provide an accurate assessment of the additional costs that will be incurred due to the changes or additions to the original scope of work.
Preparation:
- The supplementary estimate is prepared by reviewing the new requirements, changes, or scope additions that have arisen during the course of the project.
- The estimate includes detailed calculations of the additional materials, labor, equipment, and other resources that will be needed to complete the extra work.
Approval:
Once the supplementary estimate is prepared, it is typically submitted to the client or project owner for approval before the additional work can proceed. This helps ensure transparency and agreement on the cost implications of the changes.
Documentation:
It is essential to document the supplementary estimate along with the original cost estimate and any other relevant project documents. This helps in maintaining a clear record of the project's financial status and changes throughout its lifecycle.
In conclusion, a supplementary estimate plays a crucial role in accurately assessing the additional costs associated with changes or additions to the original scope of work during a construction project. It helps project stakeholders make informed decisions and ensures transparency in project cost management.
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A detailed estimate that is prepared when there is a requirement of additional work during the progress of the original work is known as:a)Annual repair cost estimateb)Revised cost estimatec)Approximate quantity method cost estimated)Supplementary estimateCorrect answer is option 'D'. Can you explain this answer?
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