Construction Estimating – A Planned Approach To Building Cost Estimates

Any construction venture, whether it be building from the ground up, remodeling or a commercial venture, depends on accurate construction estimating to bring the project in on time and on budget. The project plan, after it has been conceived, requires appropriate building cost estimates for labor, material and any associated administrative and permit costs. Accurate cost determination helps to avoid budgetary shortfalls. If you are in the construction business, the companies profitability is affected by project outcomes and the effectiveness of your efforts as a project manager will ultimately be determined by how well you manage the overall project costs.

Construction estimating services can be used for residential or commercial projects to improve the overall quality of the estimating process and eliminate areas of risk. When attention to detail is paramount to the costing process, it is easy to overlook small details that can result in costly blowouts. Research indicates that home building projects that are undertaken with the intention to save money actually experience a total cost of up to 30% more than the original anticipated building cost estimates. This can be detrimental to individuals who have not allowed sufficient scope for cost overrun. For commercial projects that rely on accuracy to submit contract bids, their services can be useful for improving the chances of turning in a winning and profitable contract bid.

Construction Estimating

Construction cost estimating guides are a useful source of information for individuals and industry professionals. Documented case studies on building construction can provide a useful breakdown of overall construction costs. Whether you are an industry professional or undertaking a home or remodeling project, these guides are a valuable source of construction estimating information that can help improve your overall costing process. There are several online sources that provide this information by subscription or by individual case study purchase.

Construction quoting software is an additional aid that can be used to improve the overall estimating process. Apart from saving time and money, you can use this software to produce detailed reports for labor, material and subcontractor costs for any project. This type of software often has a built-in dimension calculator which makes scoping and bounding material requirements a breeze. You can also build a requirements library for items that are reused frequently in projects. For minimal cost, this software can make your construction estimating efforts more efficient and accurate.

Additional articles throughout this site provide further guidelines, tips and advice to improve your overall construction estimating endeavors. It is important to remember that additional evaluation and planning can help you better prepare your project for a greater chance of success.