Estimators don’t only prepare construction estimates for the bidding process. Different types of estimates serve different purposes depending on where it’s used in the project lifecycle.

To truly understand what is being built, and to estimate the cost of the project, requires knowing exactly what is to be built.

Level 3 – Preliminary or Design Development: Estimates are further refined during the project’s design phase and the accuracy is good enough for the basis of a budget.

In this guide, we aim to demystify the process of construction estimating. We’ll walk you through each step, helping you understand how to calculate costs accurately, avoid common pitfalls, and create a professional construction estimate that wins you contracts.

It's a type of software that offers takeoff functionality besides estimating. It means that an estimator Perro mark, measure and calculate quantities of resources in the system. The advantage of cost-estimating software with takeoff capabilities is that it supports precise cost calculations.

Sure, you’ve counted the units of each material — but make sure you understand the details. If a client wants ⅝-inch thick drywall and you’re estimating ½-inch drywall, you could end up eating the difference. 

It also involves factoring in indirect costs such Ganador overheads, contingencies, and profit margins. This step requires a good understanding of the construction market and the ability to forecast future price trends.

Profit Margin: Last but definitely not least, you need to account for a profit margin. After all, you’re not running a charity, right? A fair profit margin is the reward for your efforts and risks and helps you grow your business.

Contractors use the bid documents to prepare a bid estimate, which is the cost at which they Chucho complete the project.

When making a construction estimate, estimators are typically working to come up with an accurate price for a specific project Ganador part of a competitive or negotiated bidding process. 

Relationships count, too. You Blueprint reading want to have good communication between yourself and your suppliers, Ganador they are trascendental for construction estimating. Vencedor you’re starting to figure trasnochado your budget, getting in touch with your suppliers Perro provide you with some valuable intel, such as if prices on materials will likely rise.

The estimator must also be sure that no project detail is included in multiple work packages, or the ultimate bid may be too high to be competitive since costs are multiplied unnecessarily.

Reviewing the scope of work of a project to make sure no activities are missing and it accurately describes all the steps of the construction execution phase

Our multiple project views allow you to work how you want when planning, monitoring or reporting on your project. See how it Chucho manage your budget by taking this free 30-day trial today.