Rate Comparision
Once tender is floated and price bid is received, rate comparison can be done and ultimately amount comparison shall be done. This shall include item description, quantities of different item, rate of items and amount. Here rate only items rate also to be checked and compare.
Rate analysis is the process of arriving rate of any item by adding rate of material, rate of manpower, rate of machineries and minor factors affecting rate analysis. Rate analysis is the scientific method which involves certain practical aspects also. This can give clear cut idea of item rate. Electrical charges, water charges, contingencies, curing charges, scaffolding charges, contractor profit, lead lift of material, labour hutments, storage of material, distribution of power and water etc are some of the factors which can affect the rate which shall be the part of rate analysis.
Rate analysis can be helpful to know lowest price comparison as well as procurement and contracting the agencies. Based on the scope of work this process can help to know the extent of negotiation and managing resourcing with reference to quantities and cost. For bidding tender online also rate analysis for respective items are very much necessary with reference to different locations of the project and its feasibility. Analysis of rate can facilitate builders, contractors or any executing agency to know exact rate of that specific item as well as to manage resources.
With the analysis of rate one can find out the quantities of different resources in terms of material, manpower as well as machineries required to complete project in time. Material quantities can be arrieved based on consumption factor for unit item execution, Labours required can be know based on task work per unit item execution and machinery can be calculated based on output per unit time for that specific item for execution. This data of rate analysis is very important in terms of entire control over the project i.e. quantities of different resources wise, planning and scheduling wise, commercial impact wise, cost control wise and material storage wise etc. Budge of any project is directly dependant on analysis of rates.
Analysis of rates are useful in the comparison of two different system and this comparison can help in taking complex decisions. For example conventional structural frame verses PT frame structure, HT room, transformer verses CSS and Fabricated railing verses glass railing etc.
With the help of this comparison one can easily know the cost comparison as well as time comparison and along with that advantages and challenges in future along with maintenance part. This system camparision can be done at capex level as well as at operation cost level too. So entire process shall facilitate in taking final decision to go with. This shall be helping decision maker in collaboration, compare, design features, information, managing the system.