In build-up rate, I understand different element required with different way of build-up rate which will effect the rate of the materials.
There are 3 types of estimating which is single rate, detailed estimate and comparative estimates. Each types of estimating are use in different situation. For examples, Single rate method is being used when the time is concern or only with a drafted drawing.
After learning estimating, we are able to justify and analysis the errors of a tender result. Estimating also help us by evaluating other factor which will influencing the cost.
In our assignment, We are given a tender document without a unit rate of all the element. We required to find out the units rate by ourselves. This is a hard assignment for us because we required to call the suppliers one by one to get all the materials prices and some of the suppliers tend to ignore us because we are not having money business with them.
In conclusion, estimating subject do help us a lot by teaching us in estimating all the cost of all element and evaluating other factor which will influencing the cost and others.
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