Unlocking the Power of Functions in Methvin: Advanced Equations, Variables, and Automated Pricing for Smarter Cost Estimation

Methvin provides a variety of functions to streamline calculations, whether you're managing complex construction projects or handling simpler measurements. These functions are designed to improve accuracy and simplify your workflow. Methvin supports a wide range of functions, including basic arithmetic, advanced JavaScript-based calculations, and date functions for managing project timelines. These functions are categorized into the following sections:

1. Quick Functions
2. JavaScript Math Functions
3. JavaScript Date Functions
4. Project Financing Example

1. Quick Functions

 These are commonly used functions for quick calculations.

Density of Mild steel

• [skg]: Returns the density of mild steel in kg/m³.
  • Example: [skg] returns 7850.
• [slb]: Returns the density of mild steel in lb/ft³.
  • Example: [slb] returns 490.636.

Mathematical Constants

• [PI]: Returns the mathematical constant pi (π), approximately 3.14159.
  • Example: [PI] returns 3.14159.

Using Global Variables in Equations

Global variables are user-defined values set within the estimating application. These variables can be seamlessly utilized in the Takeoff Tool’s equation field, allowing for automated calculations based on predefined project-wide values.

By incorporating global variables, users can efficiently standardize and automate measurements that share a common value across multiple takeoff elements.

Examples of Global Variables:

• [CD_GV] – Contract Duration
• [NF_GV] – Number of Floors
• [GPA_GV] – Gross Plan Area
• [WH_GV] – Working Hours on Site

This functionality enhances consistency and accuracy in estimating, ensuring that key project parameters are applied uniformly across all relevant calculations.

Power Calculation

• Computes the power of a number.
  • Example: 2^3 returns 8.

Square Root

• Computes the square root of a number.
  • Example: 4^(1/2) returns 2.

Conditional Statements

• Performs logic-based outcomes based on conditions.
  • Example: if(10 > 5) {55} else {66} returns 55.

Bill Item Quantity

• [qty]: Returns the quantity associated with a bill item.
  • Example: [qty] returns 100 (or the specified quantity).

2. JavaScript Math Functions

These functions utilize JavaScript for advanced mathematical operations.

Basic Math Functions

• E: Euler’s constant, approximately 2.718.
  • Example: Math.E returns 2.718.
• PI or [PI]: Returns the mathematical constant pi (π).
  • Example: Math.PI returns 3.14159.

Logarithmic Functions

• LN(x): Returns the natural logarithm of x.
  • Example: Math.LN(2) returns 0.693.
• log(x): Computes the natural logarithm of x.
  • Example: Math.log(10) returns 2.3026.
• LOG(x)E: Calculates the logarithm of x in base E.
  • Example: Math.LOG(2) returns 0.3010.

Rounding Functions

• ceil(x): Rounds x up to the nearest integer.
  • Example: Math.ceil(2.1) returns 3.
• floor(x): Rounds x down to the nearest integer.
  • Example: Math.floor(2.9) returns 2.
• round(x): Rounds x to the nearest integer.
  • Example: Math.round(2.5) returns 3.
• toFixed(n): Rounds x to n decimal places.
  • Example: 2.567.toFixed(2) returns 2.57.

Other Math Functions

• min(x, y, z, ...): Returns the smallest value from a list of arguments.
  • Example: Math.min(0, 150, 30, -200, -8) returns -200.
• max(x, y, z, ...): Returns the largest value from a list of arguments.
  • Example: Math.max(0, 150, 30, 20, -8) returns 150.
• SQRT(x): Computes the square root of x.
  • Example: Math.SQRT(9) returns 3.
• sin(x): Calculates the sine of an angle in radians.
  • Example: Math.sin(Math.PI / 2) returns 1.

3. JavaScript Date Functions

These functions are used to manage contract-related calculations and project timelines.

Contract Start and End Dates

• SD1: Define the contract start date.
  • Example: SD = 10/01/2017 sets the start date to 10th January 2017.
• ED1: Define the contract end date.
  • Example: ED = 24/05/2017 sets the end date to 24th May 2017.

Contract Duration

• Calculate the total duration of the contract in weeks.
  • CD1 = (([ED] - [SD]) / 1000 / 60 / 60 / 24 / 365.242 * 12 * 4.33).toFixed(2)
    This returns the duration in weeks, e.g., 19.07.

4. Project Financing Example

Contract Interest Cost Calculation Example

The table below demonstrates how to calculate the financing cost for a construction project, including initial principal, monthly increase, and interest over the repayment period. 

Example of a pricing worksheet for calculating contract interest costs:

Description	Resource	Rate	Unit	Variable	Equation	Value	Amount
Clients financing variables					1	1	-
Annual Interest Rate				AIR	[BLR_GV]%	0	-
Client initial Principal costs					1	1	-
Initial Principal				IP	[LAC_GV]	1,600,000	-
Client monthly increase cost of build					1	1	-
Design and Consultants' costs:					[TDC_GV]	9,300,000	-
Contractors build cost					[CEB_GV]	60,000,000	-
Clients provisions					[CPC_GV]	11,367,600	-
Total client cost less land acquisition cost				CC	[TDC_GV]+[CEB_GV]+[CPC_GV]	80,667,600	-
Monthly Increase				MI	[CC]/[CPD_GV]	1,390,821	-
Client cost of interest					1	1	-
Number of Repayment Periods				NOR	[CPD_GV]	58	-
Monthly Rate				MIR	[AIR]/12	-	-
Total Interest	Interest	1	sum		FOR(0, [NOR]): { answer += ([IP] + ([MI] * count)) * [MIR] }	7,972,755	7,972,755

Breakdown of Key Calculations

1. Initial Principal (IP): The land acquisition cost [LAC_GV] is the starting principal.

• Value: 1,600,000

2. Annual Interest Rate (AIR): The yearly interest rate is 4%, converted into a monthly rate:

• Formula: [AIR] / 12
  • Value: 0.0033333

3. Total Client Cost (CC): Sum of consultant, contractor, and provision costs.

• Formula: [TDC_GV] + [CEB_GV] + [CPC_GV]
  • Value: 80,667,600

4. Monthly Increase (MI): Monthly construction cost increase based on repayment period.

• Formula: [CC] / [CPD_GV]
  • Value: 1,390,820.69

• Total Interest Calculation: Using a loop formula:
  FOR(0, [NOR]): { answer += ([IP] + ([MI] * count)) * [MIR] }
  • Total Interest Value: 7,972,755.33