Cost Estimation / Quantity Surveying
At OMEGA we do first principle cost estimation and prepare detailed material take-offs in order to provide true cost of the project. This ensures realistic budgeting and allocation of funds by our Clients. Following steps are in our Quantity surveying and cost estimation process.
- Taking off Quantities from drawings and prepare MTO.
- Preparation of Bill of Quantities using MTO.
- Send TQ’s or RFI’s to client for further clarification of Tender documents.
- Prepare First Principle Cost Estimate
- Calculate labour rate ($/hr) based on Labour Agreement.
- Calculate Labour Cost based on Man hours.
- Calculate equipment cost based on hire or company’s equipment rates.
- Calculate material cost from supplier quotes and apply wastage %ages.
- Calculate total direct cost by adding Labour, Equipment and Material Costs
- Calculate overheads cost which included Medicals, VOC, PPE, Mob and Demob, Site Facilities, Site Management, Bank fees and Insurances.
- Calculate Total Cost by adding direct and indirect cost.
- Prepare technical and commercial qualifications.
- Prepare Final Selling Price after applying Margins/Mark-up and Contingencies on total Cost.
- Filling of Client’s pricing schedule.