Construction estimators are responsible for creating a comprehensive list of the materials needed to construct a building project. This is known as a quantity takeoff, and it requires an extensive understanding of local material pricing.
This information is invaluable to contractors vying for project opportunities, as it helps them prepare competitive proposals. Inaccurate estimates will quickly harm a company’s reputation and hurt working relationships.
Detailed Takeoffs
A detailed construction takeoff is the foundation of any building project. It quantifies all of the materials that will be needed to construct a structure or renovation and assigns a price to each item. Then, the estimator can use this information to create an accurate cost estimate.
This is a labor-intensive process that requires extensive knowledge of building plans and specs, as well as local market costs for various materials. For example, wood is cheaper in areas where lumber mills are located, and it’s important for an estimator to know this when compiling a material list.
Additionally, the construction takeoff process also involves validating the Scope of Work and visiting the project site to understand what will be required to complete the job. This will ensure that the estimator doesn’t omit any items that are necessary to finish the work and provides a clear picture of what needs to be done on the project.
Fortunately, digital estimator software helps to streamline this process so that teams can save time, reduce rework and produce more accurate estimates. This includes reducing errors caused by manual processes and allowing estimators to reuse takeoff data from previous projects. Having access to historical project data allows teams to improve consistency and standardization across their organization, which can help them win more jobs.
Cost Effectiveness
Construction project estimates are often time sensitive. Estimators must work within specific timeframes to provide timely expense reports that meet their clients’ expectations and budgets. The best estimate services understand these deadlines and can work quickly and efficiently to ensure cost estimates are ready on time.
In the building construction industry, estimators are also able to identify and communicate potential project risks. Unexpected construction issues can throw off timelines, budgets and overall project outcomes if they are not identified and accounted for in the initial estimate process. A great estimate service will be able to recommend alternatives that will mitigate these risks, saving the client money in the long run.
Using the blueprints and technical specifications, an estimator can subdivide a project into work packages that will be assigned to specialty contractors for completing a specific aspect of the build. This helps ensure that all aspects of the build are accounted for, and no work is duplicated. It also allows the contractor to submit a competitive and realistic bid for the project.
A good quality estimate should include the estimated costs of labor, material and equipment. It should also include a breakdown of the various building systems and their associated costs. In addition, the estimation service should take into account the impact of site conditions on constructing the project.
Streamlined Bidding Process
Whether you are a construction company competing for a project or a consulting firm vying for a client’s contract, accurate cost estimation is vital for winning bids. Considering how time-consuming and error-prone the process is, many businesses turn to estimator services to eliminate delays and ensure bid accuracy.
Besides mathematical and analytical skills, construction estimators must have excellent communication skills to collaborate with various team members involved in the project. They work closely with design professionals to review and discuss the scope of a project, and they often communicate with vendors and contractors to determine material prices and labor rates.
Estimators also play a key role in analyzing a project’s feasibility, which is necessary for securing financing and gaining approvals. They help identify potential challenges and create detailed project proposals that can improve project outcomes.
Outsourcing your estimating services can save you time and money, and also reduce the need for training and software updates. This allows your team to focus on pursuing new business opportunities and delivering quality projects on time and within budget. Outsourcing estimating services can also help increase your profits by eliminating the need to invest in additional employees, equipment, and other overhead costs. Additionally, outsourcing enables you to take on more projects and grow your business faster.
Peace of Mind
There are many factors that go into a project’s overall budget, and an estimator can help you stay on track throughout the entire process. They can help you estimate materials, construction labor, design fees, reimbursable expenses, and contingency funds. This can help you avoid expensive mistakes and keep your project on schedule.
Another benefit of estimating services is that they can provide you with an accurate material list for your project. This allows you to order the exact amount of each item needed and saves money on shipping costs. Estimators also know the current market rate for each type of material and can take that into account when calculating your estimates.
Accurate cost estimation is vital for project planning and risk management. It plays a role in every step of the process, from selecting materials and equipment to determining project timelines. Having comprehensive expense data empowers stakeholders to make more informed decisions throughout the project, reducing the likelihood of unexpected issues.
Outsourcing your estimating needs can also save you money on salaries, insurance, and other payroll-related expenses. Depending on your size, this could save you up to $100K per year! Plus, it frees up your internal staff to focus on other important projects and growth opportunities. If you’re ready to simplify your estimating processes and improve the profitability of your business, consider using estimation services to help with your next big project.