the most reliable estimate is
Answers
Detail estimate is most reliable estimate and accurate estimate.
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Answer: Detailed estimates
Explanation: The most reliable estimate is the Detailed estimate.
Estimate means a rough calculation of the expenses that is likely to be incurred to undertake various items of work. The aggregate of these possible expenses to complete the project is known as estimated cost of the work. This cost is considered closest to the actual cost incurred.
There are two main categories of estimate:
1. Approximate estimates
2. Detailed estimates
An approximate estimate refers to a rough calculation of the expenses to arrive at an approximate cost.
A detailed estimate on the other hand is the total cost of a project which is arrived after calculating the quantities and the costs that a project need to undertake for the completion of the work.
A detailed estimate is prepared in the following two ways
(a). Unit quantity method
(b). Total quantity method
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