BIM-based Cost Estimation process
cost estimation process
"Once the item wise quantities taken out, cost can be arrived based on market rate of different items or after doing rate analysis of different items. The cost of any project can be useful for following reasons.
1. To do fund arrangements.
2. To decide the finished product cost.
3. To calculate the IRR of any project.
4. To prepare the bills of work done or material supplied.
5. To comply the mandatory government norms."