Estimation Management

Eresource NFRA makes Project costing easier. eresource Nfra is the only ERP software that allows you to compute your estimate from the tender management module. Pricing of tender management module items of work are estimated on the basis of the cost of materials, equipment or hiring charges, labor, services offered and overheads, which in eresource is classified as Estimated Summary and profit.

Materials Cost: The materials costs is calculated by examining the material quotations received from suppliers and other landing cost. The Material cost historical information during the costing will help you to build competitive costing for Material.

Equipment Cost: Cost of equipment is calculated usually as a percentage of the cost of materials. Depending on whether the equipment is owned or rented, this percentage can vary. It is a common practice for project-based companies for hiring services as all the services may not be functioning under their wing.

Labor Cost: The most difficult element to price is the labor cost. Most of the times, it is not sufficient to rely on published standard rates. Allowances for absences due to sickness, loss of time due to inclement weather, overtime, etc. are required to be built in to arrive at a pragmatic all-inclusive labor rate. Rate of productivity is another factor that plays an important role in fixing labor prices .

Overheads and profit: Overheads in eresource is termed as “Estimated Summary”. Once the cost of materials, equipment, and labor has been added up, a percentage for overhead and profit is added to the item rate. The Percentage can be computed on Import Items, Local Items, on the subcontractor cost, On services and Manpower as well.

Once the pricing of all individual items for all trades is completed, the amounts are carried to a summary page to indicate the total bid price.