Possibly the most crucial part of a construction project is construction estimating. It is the process of calculating material, labor, equipment, and overhead costs associated with a building project and then creating a quote, bid, or project budget with the information. Who are construction estimators? A construction estimator is the budget maker or contract bids maker of a building project. They are essentially keepers of the project’s budget and on-time and on-budget.
Their skill set includes math, communication, time management, and analysis, plus they have a lot of industry connections. They also compile detailed cost proposals for the project manager of a construction company and project stakeholders. Sometimes, they are the builders themselves; running a small business means you wear many hats, including an estimator.
Types of Estimators:
There are three categories of clients or companies that use construction estimating services estimators. Although the cost estimations are similarly performed, there is a different focus for each.
1. A Client’s Cost Estimator:
This is when the cost estimator starts working on the project when it’s still an idea. It usually is a smaller job, like a house, and not a large construction like a shopping center or apartment block. Here, there is an element of managing client expectations, budget control, cost negotiating, and helping to finalize the contract. It is about getting the best quality at the best value for the homeowner.
2. Contractor’s Cost Estimator:
This is when the estimator considers the project’s profitability as well as its extent and viability, as well as if the task falls within the contractor’s purview. A contractor uses a cost estimator to draft contract bids. In general, you don’t want your bid to be the cheapest or the cheapest because these are often ignored. So, quotes must be competitive, professional, and accurate. A contractor is looking to bid for jobs that they can achieve, make a profit on, and manage within the project deadlines.
3. Engineer’s Cost Estimator:
A cost estimator can help an engineer create a blueprint or draft that provides quality work at a good value. They can do this by offering alternative construction methods or different materials when the engineer’s current ideas won’t work for the project. The estimate will take into account factors such as the project’s location and the logistics of delivering all materials to the building sites.
What is a construction estimator?
A construction estimator is at the heart of getting a construction project built within budget, on time, and with minimum unexpected issues. They are mathematicians, negotiators, advisors, and analytical thinkers who must think ahead and have great time management skills. Just to mention a few things.
What are their typical tasks? A construction estimator works on the following several projects:
● Calculate quantity takeoffs – the cost of materials.
● Read blueprints, or technical documents, and analyze data.
● Data entry.
● Research material costs and construction industry developments.
● Understand what machinery or equipment is needed, their costs, and how they need to be transported.
● Visit construction sites – to find any issues or obstacles that must be considered, like hills, drainage, or rocks.
● Time management – they have to estimate how long a job will take to finish. So, they have to consider delivery schedules, bad weather, equipment breakdowns, or anything else that may slow the project down.
● Risk assessment – this can include Occupational Health and Safety issues or considering bad weather.
● Good communication skills are a must for construction estimators.
● Advise – sometimes, a client wants something done in a particular way, which isn’t feasible, so it is up to the construction estimator to advise them on the most cost-effective solution.
What difficulties can be associated with construction estimators?
Certainly, just like there are several duties, there are several challenges that a construction estimator faces. Sometimes, it will be to maintain the expectations of the client. They are looking for luxurious gold stars on a bronze-age budget. Of course, there’s the big challenge of predicting what may happen down the track: will costs increase? Will there be any modifications to the regulations? How much bad weather will there be? What will the market trends be? These questions are especially important for construction projects that may not begin for a year or jobs that take years to complete.
How do they fit into the bigger picture?
Buildings or structures are constructed to make money, be safe, appear as if they are meant to, be completed on time, and meet the expectations of owners. There is virtually little probability of those five things happening in the absence of a electrical estimating services estimator.
Tools construction estimators use
Once, it used to take a pencil, paper, a slide ruler, and a calculator to do an estimate. It takes lots of time, is vulnerable to human error, and changes would add even more time to the process, and profits depend on the skills and abilities of the estimator. There is virtually little probability of those five things happening in the absence of a construction estimator.
● Spreadsheets
With spreadsheets, estimators can put down the slide ruler and the calculator. Even though they can be easily altered, the simple-to-use templates make the job quicker, they are a little more accurate, and the ability to add charts or graphs makes them easier for a non-builder to understand. They can’t compare to the ease, accuracy, and speed of estimating software.
● Estimating software
Then, along came estimating software. These estimating calculators are much faster and more accurate than anything that came before them and can be uploaded with databases of material price lists. They can estimate the construction project by adding data into the estimating tool, by downloading blueprints, or by entering specifications. The estimator tool makes the calculations and the cost estimates. These tools are instrumental in reducing the discrepancies between the estimated and actual costs.
● Simulation tools
As the name suggests, the simulation tool is like creating a replica of the building project. This allows the construction cost estimator to spot any errors or issues with the design, material quantity takeoff, or detailed cost proposals.
Conclusion
Having something to do with the building industry, you probably know how invaluable a construction cost estimate is, but if you didn’t before, we hope you do now. They are critical to offering a bid or quote. Without one, you would have no idea how to correctly estimate the costs, the time frame of the build, or if the job is even feasible for construction firms to build.
If the construction project were to be performed, a construction estimator would play a very important role, which includes factoring in risk, time, direct and indirect costs, logistics, and future trends or price hikes.
Throughout the years, thanks to estimating software, construction cost estimations have become something that is done immensely less than before. No more do they take a massive amount of time to be done. They can be done quickly, accurately, and efficiently if the right data is entered into them. You need not be one of those 30 years plus in the industry with a book of contacts and knowing the cost of materials or contractors’ costs. Estimating software has made it very easy to compile construction cost estimates, even if you are not among the professional estimators.