5. Making Estimates and Budgets

An Estimate is the resource requirement for executing a Job. An Estimate in OMNI has two functions:

1. It acts as a Budget for Resource Procurement and Consumption. Thus an estimate containing material and tagged as a Budget can be used as the Budget for Material Procurement.
2. An estimate can be used for creating a Quote (Bid/Tender). By adding a markup to the Estimate a Quote is created.

Since scopes are the Execution Items an Estimate is always created for Scopes. The Estimate for a Scope then applies to a BOQ by virtue of the Link between the Scope and a BOQ.

An Estimate for a Scope defines the Quantity (or Amount) of various Factors required for its execution. The Factors are:

1. Labour - one can estimate the amount of Labour Required by the Time (Hrs/Dys/Mnths) required for completing the Scope.
   1. Labour maybe estimated as the Time for a specific Person OR
   2. The Time for a Cadre (class of persons, Carpenter, Mason etc.)
2. Material - the quantity material required for Scope Completion.
   1. Material maybe estimated by the Quantity of Specific Material OR
   2. As a Value based Budget for a Group of Material - if the Specific Material is not known at the time of Estimation.
3. Machine - The Time that the machine is required for.
4. Subcontractor - the quantity of a Subcontracting Item that needs to be completed for executing the Scope.
5. Overhead - the amount of money that needs to be spent on an Overhead Cost Item.

To create a Estimate follow these Steps:

Scheduled Rates

OMNI also has the functionality of creating a database of rates for each of the Scopes in the WBS. These Rates and the Rate Analysis - with Resource requirements is referred to as Scheduled Rates.

With the Scheduled Rates functionality users can quickly create Estimates and Resource Assignments - for standard items of work. To use the Scheduled Rates feature: