Abstract:
Cost Estimation is the calculation of total cost for the construction of a particular project. It is done by quantity take-off of the materials from their planned drawings. The rate of the material is set according to the type and quality of work which is to be performed. The rates can either be through the currently applicable Schedule of Rates, such as Market Rate System (MRS) or Pakistan Institute of Cost and Contracts (PICC). Actual market rates can also be used. It is performed for billing, contract award and feasibility studies.
Scheduling is the planning and execution of the construction project according to the available resources and the working days. It is done in the planning and monitoring phase of a project. It helps in ascertaining the time required for the completion of the project. Scheduling is done by breaking down the work up to their activities and planning their execution.
In this project, we estimated the cost of the State Life Tower, Blue Area, Islamabad. The drawings were used for the quantity take-off and specifications which were made by National Engineering Services Pakistan (NESPAK) were used for the quality of work required. The quantities evaluated were used to calculate the duration of each activity. These were later entered into Primavera P6 after making the Work Breakdown Structure (WBS). We used floor wise approach for construction. Resources were arbitrarily allocated.
The total cost of the as planned construction of State Life Tower is Seven Hundred and Thirty One Million Ninety One Thousand Two Hundred and Thirty Five PKR (Rs. 731,091,235). The total duration of execution of the project is 5 years and 9 months from April 11, 2013 – January 11, 2019.
