What is rate analysis

Question

Accepted Answer

Rate analysis is the process of determining the rates of various items of work involved in a construction project.

It involves analyzing the cost of materials, labor, and equipment required for a particular task
It helps in estimating the total cost of a project
It is used to prepare a detailed bill of quantities for a project
It is important for accurate budgeting and cost control
Example: Rate analysis for the construction of a building involves determining the cost of materials like cement, steel, bricks, etc., the cost of labor, and the cost of equipment like cranes, excavators, etc.