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TSYH 3453 - Estimating Part 2: Costing

Transystems Part-time Studies Course

School of Construction and the Environment

Course Details

A continuation of TSYH 3450. The cost elements of quantities including labour, materials, handling, inventory, overhead, etc., are determined or applied to take-off quantities in preparing bid estimates and summarizing project costing.

Credits

2.0

This course isn't currently offered through BCIT Part-time Studies. Please check back next term, subscribe to receive email updates or contact us with your comments or questions.

Learning Outcomes

Upon successful completion, the student will be able to:

Module 1 - Introduction to Costing

  • Define the general terms related to costing and pricing of a heavy construction project tender.
  • Differentiate between fixed and variable indirect costs in general terms.
  • Differentiate between lump sum and unit price tender prices and give examples of the application of each.
  • Discuss the differences between balanced and adjusted tender prices, and the reasons for and against unbalanced tender prices.

Module 2 - Labour Rates

  • Identify and discuss the components of hourly labour rates used in the costing phase of an estimate.
  • Research and calculate hourly labour rates for use in the costing phase of an estimate.
  • Identify and discuss overtime and shift premiums and calculate appropriate overtime and shift premium factors.

Module 3 - Equipment Rates

  • Identify, discuss, and calculate the ownership cost and depreciation allowances for equipment and convert these values to hourly rates.
  • Identify, discuss, and calculate the operating costs for equipment.
  • Compare and recommend either rental or purchase of equipment based on calculated comparisons.

Module 4 - Direct and Indirect Cost Calculation

  • Define the cost categories typically involved in direct and indirect costs.
  • Employ a typical item detail analysis form to calculate unit and total costs for specific direct and indirect cost items using previously calculated take-off quantities and productivity.

Module 5 - Estimate and Tender Completion

  • Describe in detail the engineering fundamentals of productivity and apply these concepts to the calculation of productivity rates for equipment and labour crews.
  • Employ a typical estimate summary form to summarize direct and indirect cost items, distribute indirect costs to tender items and distribute profit to tender items.
  • Describe the process for completing and submitting a tender for a heavy construction project.

Effective as of Fall 2003

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The personal information on this form is collected under the authority of the College and Institute Act (RSBC 1996, Ch.52). BCIT will use this information to communicate with you regarding relevant BCIT programs, courses and services. This information is only used by authorized BCIT staff. Email communication sent to and from BCIT is routed through the United States of America. If you have any questions about BCIT's collection and use of this information, please contact BCIT’s manager of Information Access and Privacy.

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