Estimating is the technique of calculating or knowing the various quantities and the expected Expenditure to be experienced on a particular work or project. In case the funds present are less than the calculated cost the work is done in part or by deducting it or specifications are altered, the following requirement are worth essential for preparing an estimate. Drawings like plan, elevation and sections of important points. Detailed specifications about work men ship & properties of materials etc. A cost estimate is the approximation of the cost of a program, project, or operation. The cost estimate is the product of the cost estimating process. The cost estimate has a single total value and may have identifiable component values. A problem with a cost overrun can be avoided with a credible, reliable, and accurate cost estimate. A cost estimator is the professional who prepares cost estimates. There are different types of cost estimators, whose title may be preceded by a modifier, such as building estimator, or electrical estimator, or chief estimator. Other professional titles may also prepare cost estimates or contribute to cost estimates, such as quantity surveyors, cost engineers, etc Standard of construction can be achieved by careful supervision and selecting proper specifications whereas for Economy, planning is a must. The total quantity of various materials used in construction, if known before hand, can help the planning towards economy. .