Application for Estimating Man, Material and Machinery Cost for Huge Multi core Infrastructure Projects
Estimating the cost of Man, Material and Machinery of a project was very time consuming and was being a repetitive task even if similar projects have been already executed as there was no provision to automatically generate the approximate cost of the project in a short time.
Proposed and Implemented Solution
We designed a solution that would acquire basic information like the components of the projects, their quantities, basic labor categories and the numbers needed, the machinery required and their quantities. With this information, the system would estimate the cost on labor, material and machinery for completing the project.
Also, the estimate is saved which is used in future to estimate a similar project and comparison analytics. The solution has the provision to store data of variety of projects. This way when a new project is on field, template of the similar project done is retrieved by the system and customized to arrive at the estimate of the labor, Material and Machinery for the new project.
The cost summary, equipment summary, material summary and labor summary for the project are presented as snapshot for review which will help the management to work on the adjustments.
The solution addressed the challenge of reworking on the estimates and accuracy on the figures even on similar projects.
This addressed the challenges and benefitted the client in achieving:
- Minimum effort to estimate the men, material and machinery cost of projects
- Enhanced the quick turnaround time at this estimation phase of the projects .
- Improved the accuracy of the estimation as it is programmed which reduced the manual intervention in the calculation.
- Automatic integration of different components of the project which were being done individually by different members of the team.