SOR – Schedule of rates
Generally, the cost of a building depends on two things:
- Quantity of items inside the building and their cost.
- Market rates off the building and land.
The rates for various types of work may vary from place to place and it depends upon the human resource of that area and demand of owner.
Example. If the owner wants a chair. Then first ensure the material used for the manufacture of chairs, that is plastic or metal. Then finalize the rates and compare the durability and all other things related to the chairs.
This type of analysis is in under schedule of rates( SOR).