Approximate Method of Costing

       A general principle of approximate cost estimation method:

          There are various ways in which the internal balance is adjusted. But in general law, it all consists of multiplying the number of items and units in a proposed building at the known cost of the same item or the same internal unit that exists.

So a simple process that involves two tasks:

• Adjust the unit and calculate the number of units in the proposed operation
• Adjust the unit cost by studying the actual cost of a previously constructed building.

          If there is a need to change the actual cost of a unit due to differences in construction costs, the same can be done with the help of a simple device known as a cost indicator. It is a device that shows the changes in the cost of a particular item or group of items over a period of time. The following is the process of preparing a cost index:

• The time they were chosen
• Critical factors are identified that include the index
• Weight is allocated to each item
•  Prices are collected from time to time
• Indication is made by equation

        Approximate method of costing for various interior works:

Estimated cost of internal work can be obtained through the use of any of the

following five steps.

• Service - unit method
• Square method - meter
• Cubic - meter method
• Normal - bay method
• Nearby Measurement Method

Methods are sorted by precision level, eg first time action method and

the results are almost the same while the latter method takes longer than the other method however

the result is more accurate. We will now discuss in detail all these ways.

Fig: approximate method of costing

1. Service - unit method:

      The service unit method indicates the most important unit in the internal builder e.g. to

interior work of a school building, the service is a classroom; in the hospital, it's a bed; in

large apartment, tenement; in cinema, it is a chair; prison, is a cell; stable, of course

animal in a hotel, it is a place; in the office building is a place; in the stadium, it's a chair, Then,

      Estimated cost of internal work = Number of units of internal work x cost of

a service related to the same internal function that exists.

      For example, suppose the interior work of a 16-classroom school building will be

fixed and continued let's assume the cost of classroom renovation alike

existing school building Rs. 20,000. Then there is the estimated cost of the proposed internal work of

the school building will be 16 X RS. 20,000 or Rs. 3,20,000.

               The following points should be noted:

• Arrangements in this way vary greatly depending on the type of construction and the level of finish
• The dosages prepared for this method are very close to nature.
• The proposed interior work should be similar to the existing building in almost every way, in order to approach its proximity to the actual cost.
• The change in the price level of various domestic activity items should also be considered when determining the estimated cost of the proposed internal activity.
• With the utility of the service, the cost of the building can be easily repaired and it takes less time in any other way.

2. Square-meter method:

               In this way, the floor area of ​​each proposed building is used for a square meter. Then the equivalent internal cost of the proposed building = the total area of ​​all X floors costs a square meter of the same internal work.

               Under a computerized floor, measurements are drawn out of the walls and usually no reductions are made for stairs or other similar spaces. By working the plinth area, speculation at the plinth level is removed.

           Following factors affect the approximate cost worked out by this method:

• Price change: naturally, if the price has changed significantly, the cost per existing square meter must be adjusted accordingly to accommodate this price change.
• The height of the roof: in this case, the height of the floor is not considered. therefore, if the length of the proposed internal work is more or less than the existing one, the cost per square meter should be slightly increased or reduced accordingly.
• Type of construction: the type of construction and the degree of completion of the proposed internal work should be almost the same as the existing one. This will bring the cost of construction closer to the final cost.
• Interior design: it is clear that the interiors of square buildings will cost less per square meter than those of rectangles in the same area. This is because square buildings have fewer perimeter walls than those of rectangular buildings of the same area. For example, suppose there are two interior structures - one square 10m X 10m and one rectangle 20m X 5m. The interior areas of both buildings are the same, i.e. 100 sq. M. M. But the boundary of the walls in the case of the interior of a square building shall be 40 meters while it will be 50 meters in the case of a rectangular building. So the rectangular interior cost of construction will usually be more than the cost of a square interior building.
• Large openings: if there are large spaces at the bottom, the correct adjustment should be made at the expense of each square meter.
• The existing interior of the building: the same existing interior, the cost of which will be deducted per square meter to the proposed internal cost of the proposed building, should be constructed in the same way as the proposed building, as it would be unreasonable to compare two adjacent buildings.

3. Cubic - method meter:

               In this way, the cost per cubic meter is used as a basis for obtaining the internal internal cost of the proposed building. The proposed internal content of the building is processed and:

              Estimated internal cost of the proposed building = total cubical content of the internal interior of the proposed building X costs each single meter of the same existing interior.

              Area measurements are taken in the previous way and then the area is multiplied by floor height to determine the cubical content of the proposed interior of the building. All the items mentioned in the previous process affect the estimated costs incurred in this way. Following a few more points requires ongoing attention:

• There is no standard agreement regarding the installation of cubical content on open verandas, open porches, plazas, etc.
• There is no standard rule for measuring the internal height of a proposed building.
• Special care should be taken to correct the cost per cubic meter of the same proposed interior.
• To get satisfactory results with the help of this method, it is absolutely necessary to hire the same person to adjust the cost per cubic meter and to calculate the cubical content of the interior of the proposed structure. If the cost per cubic meter is determined by one person and the content of the components is calculated by another person, the results obtained may be inaccurate and misleading.

4.  Typical- bay method:

              This method is useful in the case of interiors with many similar tenders. A harbor is a space that runs from the center to the center of two consecutive columns. A typical indoor bay is preferred and its costs are incurred. After that,

               Estimated internal cost proposed = number of ports in the proposed internal area X cost of one bay.

                The following points should be noted:

• The necessary repairs should be done with terminals due to termination walls and other areas, if there is a difference in agriculture.
• This method is useful for industries and other similar activities.
• More time is needed in this way than in any previous method. But the result obtained by the method is found to be very reliable.

5. Approximate quantities method:

                   In this way, various values ​​have been used with the help of many shortcuts. For example wall painting is measured by line measurements, i.e., in the meter-measured operation of objects such as divisions, probes, water proof treatments are calculated by the running length and with the help of the values ​​of these objects, the appropriate price per running meter is constructed. This price when multiplied by the total running rates gives the estimated internal building costs required.

The following points should be noted:

• Collection and pricing are highly dependent on the valuer's experience.
• In this way, adequate funding should be made to compensate for the minority losses - visual ones.
• For all previous methods, this method provides the closest estimate to the final estimate. It takes more time. But the results are well worth the effort.

Problem 1:

One buys a building and renovates a piece of plinth area of ​​100 sq. M. M. in this building. The renewal cost is Rs. 28,000 / -. The height of the building reaches 3.40m. parapet wall height of 80 cm. built on the balcony. Calculate the cost per square meter and the inner cubic meter.

If the same interior of the plinth is equal to 140 sq. M. M. that it will be renovated in the vicinity, what would be its estimated construction costs?

Solution:

Cost per square m. = 2800/100 = 280rs.

 By finding the cost per cu. M., the appropriate height should be made. There is no standard rule for correcting this height. In this case, the height of the building is measured between 20 inches below the level of the plinth to the center of the parapet wall.

Structure height = 0.20 + 3.40 + 0.5 x 0.8. = 4.00 m

Cubical Content = 100 x 4.00 = 400 cu. UM.

Therefore, the cost per cu. m. = 28000/400 = 70 / - Rs.

Plinth the same interior area = 140 sq. M. M.

Therefore, renewal costs = 140 x 280 = 39200 / - Rs.

Cubical content of the same interior = 140 x 4 = 560 cu. UM.

Therefore, renewal costs = 560 x 70 = 39200 / - Rs.

Problem 2:

If the foundation costs up to plinth level Rs. 8000 / - calculate the estimated cost of renovating the first floor of an area with a built area of ​​65 sq. M. M.

Solution:

Basic cost per square m. = 8000/100 = 80 / - Rs.

Cost per square m. on the first floor = (280 - 80) = 200 / - Rs.

Therefore, the estimated cost of renovation of the first floor = 200 x 65 = 13,000 / - Rs.