Cost estimates are used to calculate construction costs, and refers to a detailed calculation of the amount of money based on design drawings and specifications.
It is a method to calculate the amount of money in detail based on the blueprints and specifications. Specifically, it is calculated by extracting the quantity of each item, such as materials and labor required for the construction from the blueprints and specifications, multiplying those quantities by the unit price to obtain the amount of money for each item, and then adding up the amount of money for all items.
One feature of cost estimates is that it is the most accurate method of calculating construction costs because it is generally used after the completion of the implementation design, when the details of the design are fixed. On the other hand, since it is necessary to calculate the amount of money for each item in detail based on the blueprints and specifications, it requires an enormous amount of time and effort to calculate the construction cost compared to the rough estimate.
When the quantity is calculated according to the standard by Ministry of Land, Infrastructure, Transport and Tourism called the measurement standard, the quantity calculation method is based on common rules, so the same quantity is calculated regardless of the cost estimator.
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