Money : You calculate your cost, apply your markup, and present the total to your customer.Achieving the Cost Estimating TrifectaĬonstruction cost estimating is essentially about three things: Nevertheless, there are certain components that are likely to be part of every excellent estimator’s approach. Most useful construction cost estimating advice will need to be specific to you and your business. No two contractors have the same track record or the same internal organization, constraints, and capabilities. No two estimators have worked on exactly the same projects. Your cost estimating experience and judgmentĮven if processes can benefit from cost estimating standards and best practices, and a project sometimes allows the re-use of other successful cost estimates, experience differs in every case.The construction project for which the cost estimate is to be made.Efficient, accurate processes and tools.The best estimating you can do for your construction company depends on the following: Yet the truth is there is no universal ultimate guide to construction cost estimating. It’s no wonder that so many people want to add their two cents’ worth about the best way to do it. However, it can all too rapidly veer towards loss of money (estimates too low) or loss of customer (estimates too high). How many books are there on estimating construction project costs ? How many manuals, price indexes, spreadsheets, tools, rules of thumb, and opinions? Construction cost estimating should lead to profitable business and satisfied clients.
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