Estimating and Costing is the technique of calculating or Computing the various quantities and the expected Expenditure to be incurred on a particular work or project.
In case the funds available are less than the estimated cost the work is done in part or by reducing it or specifications are altered, the following requirement are necessary for preparing an estimate.
a ) Drawings like plan, elevation and sections of important points.
b) Detailed specifications about workmen ship & properties of materials etc.
c) Standard schedule of rates of the current year.