Design, drawing and bill of quantities (boq) for works, Financial Management

Design, Drawing and Bill of Quantities (BOQ) for works

We discussed about INCO terms which are set standards for the project. Now let us learn about other parameters for contract preparations.

For  the  works  included  in  a  package/project,  you  have  to  prepare  the design, drawings and specifications for incorporation in the bid document. From the design and drawings, the cost estimate has to be prepared by determining the quantities.

The BOQ gives the various items of work involved, brief specifications, unit of measurement and the estimated quantities. It enables the bidder to offer his unit rates (used in the Item Rate Contract) for the various items included in the BOQ, the summation of which gives the bid price.

Posted Date: 9/28/2012 3:14:40 AM | Location : United States







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