Building materials price is defined as the transaction price between the contractors and the suppliers under the normal credit terms specified and discount for an average contractor. The size of the purchase shall normally be in bulk, taking care of normal discount given to its clients inclusive of all necessary taxes if applicable payable to the government and the transportation costs within practicable distances as well as profit.

A total of 19 building material groups were identified and prices are collected from selected geographical coverage on a monthly basis.

The objective of this publication is mainly to assist those who are involved in the construction industry to execute simple approximate estimates as estimating is the key to a successfully conceived, managed and completed project. In addition, it is also a function common to a broad spectrum of projects in which cost, other than time, must be managed. The primary function of an approximate estimate is essentially to produce forecast of the probable cost a future project before the facilities has been designed in detail and contract particulars prepared. In this way the person involve, either the investor or the building client, is aware of his financial commitments before extensive design work is undertaken.