Week 2: Day 3

Cost Estimation and Pricing

Tuesday was a day spent learning about cost estimating in construction management by Mr. Naim Mohamed, Chief Estimator at DCC. For the first half of the day, we went over the process of submitting tender documents and what documents are included. We then learned about the division of works in a detailed Bill of Quantities (BOQ). The major categories of works in a detailed BOQ are the preliminaries (in-direct works), enabling works, concrete works, masonry works, thermal and moisture resistance, timber joinery, metal works, finishes, painting and decoration, accessories, MEP works, vertical transportation systems, fixtures and equipments, furniture, fittings, and equipments, and external works and landscaping.

After lunch, we continued with the second half of the lecture. We learned about the procedure for pricing and estimating and went over examples given in the notes. The first step to pricing is checking the quantities in the BOQ, and the second step is obtaining float inquiries for a proper quotation on price. Next is unit rate analysis for direct works, such as concrete works and formwork, and for indirect works, such as supervision, facility, transportation, and equipment costs. Subcontractor quotations are included separately. Compile all prices together into a Basic Bill of Quantities and prepare a summary sheet for uplift. Once the markup and profit are approved, the Final Tender Price is obtained.

After a long day at the office, we went out for a group dinner at Sammach, a traditional Lebanese seafood restaurant in the Souk Al Bahar in the Dubai Mall. As usual, there were a vast assortment of appetizers to eat and a huge red snapper as the entree. We had a variety of Lebanese desserts to eat as well. It was a pleasant way to close out the night.

Group Dinner at Sammach Restaurant