BOQ stands
for " Bill of Quantity " and is a document prepared by a cost
estimator that shows the exact cost of the projects multiplied by their rate.
It is the most important document for making a contract and agreement
What Is BOQ?
A BOQ – Bill of quantity
is a document prepared by a cost estimator to calculate the exact cost of a
project by multiplying the material works by their rate. It is the most
important document for making a contract and agreement. The BOQ gives an
idea of the cost of the project that the tendering firm is willing to
offer.
TYPES OF BOQ IN CONSTRUCTION
|
Bill of Materials |
Bill of Labour |
|
In
this Bill of Materials document, only the cost of the material is estimated
from the quantity of material and its unit ratio. For
example, the quantity of sand for the project we need a quantity of sand is
100cft and its cost is Rs 45/cft. therefore, its estimated cost, = 100 x 45 =
4500Rs. |
In
this Bill of Labour document, only the cost of the Labour is estimated from
the quantity of Labour and its day rate or sqft. For example, 2 labours are required two days to complete plastering work, so consider labour wage 900 = 2 x Rs 900 x 2 days = 3600 Rs. |
Format
of Bill of Quantity
Advantages of Preparing
Bill of Quantity (BOQ)
It is useful in cost
planning before the bidding process.
Tendering – BOQ is
issued to contractors or bidders with a mere unit rate. They fill the
ratio according to their prices and the lowest bidder is declared the winner.
(and based on other eligibility criteria).
It gives the investors a basic
idea of the cost of the project.
The basis for the valuation of variance is provided in BOQ. (The variation should be discussed in detail)
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ReplyDeleteThanks for sharing this valuable resource. Having a well-prepared Bill of Quantities (BOQ) is crucial for accurate project cost estimation and Invisible Text contract agreements.