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A type of estimate required if there is change amounting to more than 5% of the original value due to price hiking or change in specification, but does not include any major change in structural design is called
1. Detailed estimate
2. Revised estimate
3. Supplementary estimate
4. Rough cost estimate

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Best answer
Correct Answer - Option 2 : Revised estimate

Explanation

The different type of estimates and their meaning is mentioned below in tabulated form:

Type of Estimate

Definition

Preliminary Estimate

It is an approximate estimate and prepared by owner itself before the actual award of work to any agency.

Cube Rate Estimate

It is an approximate estimate and prepared by calculating the cubical content of building by multiplying its length, breadth and height.

Detailed Estimate

It is the accurate estimate prepared by working out quantities of each items of work. It is prepared in two stages: 1. Details of measurements and calculation of quantities and 2. Abstract of Estimate.

Revised Estimate

It is prepared when original sanctioned estimate is likely to exceed more than 5% due to changes in quantity of material or rates.

Supplementary Estimate

It is the fresh detailed estimate of the additional works in addition to the original estimate. It is required when further development is required during the progress of work.

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