Unit price book
Unlike the bill of quantities —which lists the quantities of a specific project but not the prices—, the unit price book is a price repository: a list of work items with their unit price already calculated and backed by its unit price analysis. It is not tied to any single project; it is a reusable library from which items and prices are pulled to build estimates, quotes and progress billings.
Each row identifies a work item with a code, a technical description, a unit of measure (m², m³, linear m, each, ton) and its current unit price. When estimating a new project, the estimator looks the item up in the book, takes its unit price and multiplies it by the quantified amount, instead of breaking down materials, labor and equipment all over again. This speeds up the work and keeps pricing consistent across projects.
Both public and commercial unit price books serve as references: the cost schedules published by government agencies and public-works authorities, and the cost databases built into estimating software. Construction firms also keep their own in-house catalog, with prices fine-tuned to their production rates and to their real material costs.
A unit price book loses its value if it is not kept current: material prices, labor and the labor burden factor change over time, so prices must be reviewed periodically or carry an effective date. An outdated price under- or over-estimates the budget and eats into the job profit.
Formula
Example
In a unit price book, item code 04-020 "Concrete f’c = 25 MPa in slab, including placing, vibrating and curing", unit m³, has a unit price of 2,850/m³ effective as of January. To estimate a 45.00 m³ slab, you take that price straight from the book: 45.00 × 2,850 = 128,250, without redoing the analysis.
| Item | Unit | Quantity | Unit price | Amount |
|---|---|---|---|---|
| Materials | ||||
| Red clay brick | pza | 42.00 | $6.80 | $285.60 |
| Cement-sand mortar 1:4 | m³ | 0.030 | $2,150 | $64.50 |
| Labor | ||||
| Mason | jor | 0.180 | $520 | $93.60 |
| Laborer | jor | 0.180 | $380 | $68.40 |
| Equipment | ||||
| Small tools 3% | % | — | — | $4.86 |
Frequently asked questions
What is the difference between a bill of quantities and a unit price book?
The bill of quantities is the list of work items for a specific project, with their code, unit and quantity, but no prices. The unit price book is a reusable database of work items with their fully loaded unit price, not tied to any one project; prices are pulled from it to build estimates.
What is a unit price book used for?
It works as a reference price library: it lets you estimate and quote by taking the already-calculated unit price of each item, without rebuilding the analysis from scratch, and it keeps pricing consistent across different projects.
How often should a unit price book be updated?
It should be reviewed periodically —typically every quarter, or at least once a year— because material prices, labor and the labor burden factor change over time. Each price should carry an effective date so you know whether it still applies.