Cost estimate is the approximation of the cost the project or operation.
Once the Architect prepares the scheme design we compute the estimated cost of construction, where the cost is considered against the clients’ budget and cost cutting measures discussed with the Architect if necessary. We also advice on the estimated duration of the project based on the approved design and specifications. Should the cost estimate be acceptable to the client, then working drawings are developed; otherwise the scheme design is revised so that it falls within the client’s budget.
This is the process of selecting a contractor to execute the project and involves competitive bidding. We advise on the tendering procedures that are most suitable for the project.
The following options are available:
- Open tendering
- Selective tendering
- Negotiated tender
- Serial tendering