Rate analysis Norms
Rate analysis Norms. All construction projects are subdivided into various activities. With each activity, there are different construction and civil works. Therefore, the total cost of construction works is a combination of all the costs of activities involved. Benefits of Rate Analysis There are two significant benefits for carrying out rate analysis of an item. The first is determining the cost per unit item , while the second determines its economic processes and uses. Importance of Rate Analysis Rate analysis gives a well-defined picture of tools, services, and machinery involved in the construction of a project. Rate analysis helps in proportioning the effect of the market on the payments made for construction work. It also helps in determining the construction costs per unit as stipulated in the specifications. The use of rate analysis makes it possible to come up with uniform standards for construction works. How do you calculate Rate Analysis Five factors play a piv...