Construction estimating is an industry that requires excellent math and analytical skills. These skills are essential for preparing estimates and analyzing costs before, during and after construction projects.
There are many ways to get training for this career, including taking a high school diploma or going through college. Some colleges offer online courses that allow you to learn from home.
Cost Estimating and Cost Controls
Cost estimation is an essential skill in the construction industry. It allows you to set up a budget and ensure that the project is on time and within budget. It also lets you know when to order materials and keep track of labor costs so your project stays on track.
Professional organizations around the world have established global practices for cost estimating. These include the establishment of different classes of cost estimates based on their levels of accuracy, project phases, and available tools and techniques.
A rough order of magnitude (ROM) estimate is usually used at the earliest stages of project planning, whereas a definitive estimate is completed during the more detailed design phase. Both types of estimates are useful, but each type has its own merits and limitations.
One of the key differences between ROM and definitive estimates is the quantity of labor and material included in each. Generally, ROM estimates contain an aggregate of the specific types of labor and material that will be employed for each individual physical component of a facility. This can be a problem for cost accounting purposes, because the organization might not have established categories of labor and material that are relevant to different physical components of the project.
The basis of estimate (BOE) report is a vital part of any cost estimate, since it describes the assumptions, inclusions, and exclusions that were made when preparing the estimate. It is important to ensure that the BOE is complete and accurate, because it will help other parties understand what costs are involved in the project.
In addition to the various ways in which costs are estimated, project managers can also use cost control methods. These involve comparing project cash flow and schedules to the cost estimates, identifying changes that have occurred during the construction process, and making appropriate adjustments to the budget.
As a result, the responsibilities of project managers can vary based on the requirements of the particular organization and the level of detail that they want to include in the cost estimates. For example, some organizations may require all projects to be budgeted in accordance with very specific policies; other companies may defer to the expertise of the project manager on this matter.
Construction Estimating Fundamentals
Construction estimating is the process of determining the cost of a construction project. It is important for contractors to know how to estimate the costs of construction projects in order to make accurate and profitable bids. Estimating can also help contractors avoid disputes that can put them at financial risk during the construction process.
There are many construction estimating courses online canada available that will teach you how to estimate the costs of a construction project. These courses will cover all aspects of construction estimating from the basics to more complex trade-specific estimating.
A number of these construction estimating courses will also provide you with hands-on experience in preparing and analyzing estimates for your specific field. You will learn to review architectural and engineering blueprint drawings and project specifications, calculate takeoffs, and price estimated quantities.
In addition to providing a comprehensive review of construction estimating, these courses will also introduce you to the fundamentals of computer-based estimating software used in the construction industry. This will help you become more familiar with the estimating process so that you can produce accurate estimates in a short period of time.
This course is ideal for anyone working in the construction industry who wants to understand how to estimate the costs of a construction job. This class will also cover how to create takeoff sheets for a specific job, which can be used as the basis for pricing the contractor’s work and sub-trade work.
For a complete understanding of the estimating process, consider taking this online course from Canada’s leading provider of construction estimating education. The course will help you to learn how to prepare construction estimates using a variety of spreadsheets, including CSI MasterFormat(r) divisions and building information modeling (BIM).
FUNDAMENTALS OF CONSTRUCTION ESTIMATING is a clear and engaging text that presents estimating procedures in a straightforward manner. It will walk you through the key processes of estimating construction work such as quantity takeoff, pricing of contractor’s work, pricing sub-trade work, and site overhead. The book includes drawings for two complete projects – one residential and one commercial – that will allow you to fully understand the estimating process.
Estimating Electrical Installations
Estimating electrical installations is a critical part of any construction project. Without it, it is difficult for owners to calculate total project costs and for contractors to know exactly what their bid will be.
A good electrical estimate should be clear, detailed, and accurate, allowing your client to get an idea of the cost of the job. It should also include the amount of materials needed and any other additional costs such as insurance and taxes.
Creating an accurate electrical estimate is the first step in winning projects and maintaining profitability for your business. The final price must be high enough to cover all the costs of the project and still give you enough profit to grow your business.
The best way to do this is with a well-established estimating system that includes material takeoff, labour units, and profit margins. You can use this system to prepare accurate estimates for any type of electrical project.
In addition to a good estimating system, you should also choose the right kind of work to bid on. This can save you time, money and avoid making costly mistakes.
As an electrician, you should select the right electrical construction jobs that suit your skill set and expertise. This will allow you to get the most out of your estimating process and help you win projects with low bids.
You should also use your own experience as a basis for determining the labor cost for an electrical construction project. This can be done by calculating the hourly rate and the labor burden, which is the total additional cost to the contractor for providing benefits and insurance to its employees.
For a more detailed approach, you can use the unit pricing method, which assigns a value to the amount of human labour required to install each item of hardware in a construction project. However, this method can lead to discrepancies in the final estimate if the project involves significant variations from past projects.
The design and construct estimating method is another common approach for electrical estimators. This method involves forecasting the entire project from design to construction. This can be a complicated task and requires extensive knowledge of design methodology, construction, labour and materials.
Estimating Plumbing Installations
Using a plumbing estimating software can help you accurately estimate the cost of any project. These systems offer a wide variety of features to make estimating easier and faster, including flexible pricing structures, detailed cost breakdowns, and materials lists.
The cost of a plumbing installation can vary widely depending on the size and scope of the job. For example, a large water heater may be more expensive than installing two sinks in a primary bathroom. In addition, labour and fixture costs will differ from one job to the next.
When estimating the costs of a plumbing installation, it’s important to consider the amount of labor and material that will be required for the job. This will affect the overall cost of the project, as well as how long the job will take to complete.
Some estimating software also allow users to create quotes and invoices quickly and easily, eliminating the need to manually generate estimates. This can save time and reduce the number of errors associated with manual quoting.
Having an accurate plumbing estimating system can ensure that a plumber is able to budget properly for each job. It can also help them provide customers with the latest prices for supplies and equipment.
Plumbing estimating software can be purchased in various forms, including one-time purchases, annual licenses, and monthly subscriptions. These options come at different prices, and each will have its own set of advantages and disadvantages.
One-time purchases are typically the most affordable option, but they will only provide limited access to the software’s features. Alternatively, annual licenses usually cost more than a one-time purchase, but they can save you money in the long run by providing you with unlimited access to all of the software’s features.
Most plumbing estimating software is cloud-based and can be accessed from any device with an internet connection. Some solutions also include mobile apps for faster access to information while out in the field.
Some estimating software even integrates with building materials databases to help users find the most affordable prices for a particular job. These types of solutions are especially useful for emergency services or jobs that require rapid response.