Unit Method Of Approximate Estimate

It is also known as preliminary estimate. It is undertaken for making studies of different phases of work of project and for its administrative authorization. This type of estimate can determine for any commercial project, whether the net income gained substantiates the amount invested or not.

The approximate estimate is made from the practical knowledge and cost of equivalent works. The estimate is led by a report that precisely narrates necessity and effectiveness of the project as well as with a site or layout plan. For contingencies, there should be 5 to 10% allowance.