Overhead and labor can be expensive, but the devil is in the details: project estimations. Using an educated guess to accurately predict cost can be unreliable, but it’s the best tool we have. Ahead, you’ll find some advice on common cost estimation issues to get the job done quickly and efficiently.
Chart a Course
The estimator can’t succeed without a solid foundation to work from. All successful projects begin with a detailed set of plans to work from, to ensure full transparency with the estimator and contractor. The plans will also act almost as a contract: All parties will agree upon the designated plans when moving forward with the project, and everyone involved can receive a set of identical drawings to avoid discrepancies. Don’t move ahead without authorized, definite plans.
Unit Cost Estimating
Stick estimation is common for construction budgeting, but there are more effective ways to plan. Stick estimation is time-consuming and tedious, whereas estimating by unit cost can do the same job. Maximize time spent with clients by getting a clear vision of their objectives, not by dwelling on how much every single item will cost. Rather than counting up item by item, unit cost estimation allows accuracy by compiling line items, and then attaching a cost to each line. Strategically, you can still create an accurate picture of expenses while saving your customer time.
Another excellent method of cost estimation is the use of a software program. The time is now to jump on innovative technological advances that will make your work more precise and more simple. Manual estimation can be efficient as well, but modern software leaves no room for error. You want to spend your days with satisfied clients and motivated workers, not penciling in line items. Consider jumping into a new era of construction with computerized cost estimation. This strategy will put you ahead of your competitors that will have a quote in a week; you can draw something up for your client today.
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