Estimating :- it the process of calculating the quantities and costs of the various items required in connection with the work for its satisfactory completion.
Costing :- it the process of determining the actual cost of the work before the execution of work.
Purpose of estimating & Costing :-
- To know the approximate cost of proposed work.
- To obtain administrative approval and technical sanction.
- To know the requirements of tools, plants and equipment.
- To fix up the completion of period.
- To draw up a construction schedule and Programme.
- To invite tenders.
- To keep control over expenditure during construction valuation to know value of property.
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