Code of estimating practice
The first edition was published in 1966, and it has now become a highly-respected industry resource. It provides an authoritative guide to the principles of, and good practice in, estimating for building work.
It presents estimating as part of the wider process of commercial management for construction businesses, defining estimating as, ‘the technical process of predicting the costs of construction’. This is not simply a matter of winning a bid. If the bid is successful, the estimate goes on to form the basis of the contractor’s budget and cost management strategy.
The previous edition, the sixth edition, was published in 1997. The seventh edition included new material on estimating strategy, tendering, procedures and best practice, as well as the build-up of unit rates of cost, overheads and profit, and e-commerce.
The contents of the code are:
- Underlying principles
- Receipt of tender documents
- Tendering strategy
- Pricing the works
- Completion of estimate
- Tender settlement
- Post-tender activities
- Alternative estimating techniques
- Contractual arrangements
- Computerisation and e-commerce
 Related articles on Designing Buildings Wiki
- Approximate quantities cost plan.
- Bills of quantities.
- Chartered Institute of Building.
- All-in rates.
- Contract sum analysis.
- Contract sum.
- Cost consultant.
- Cost control.
- Cost engineering.
- Cost plans for construction projects.
- Elemental cost plan
- Final account.
- Initial cost appraisals.
- New Rules of Measurement.
- Pre-tender estimate.
- Project overheads.
- Tender documents.
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