Construction estimating is simply the art of predicting the cost of constructing a particular physical structure. This step alone is extremely important, and arguably the most critical in the construction endeavor. Cost estimators must be as precise as possible since any overestimates can seriously impact profit margins (contractors' livelihoods). While estimating costs can be challenging, the end result can provide valuable information about a contractor's business practices. The resulting reports can help the public gain access to information they would otherwise not have and can help determine whether or not to retain a contractor or to find one with better performance. One of the main types of factors considered when estimating the cost of a project is labor. This residential construction estimating software includes factors such as the number of material hours needed to construct the structure, which may include hourly labor, salaried employees, and overtime, as well as any mandatory breaks, lunches, or paid holidays that a company requires its employees to take. Calculating labor hours by using standard timecards can be an especially useful tool because most construction estimating firms deal with large construction projects that have many individual job functions that require workers to be compensated by the hour. Another factor often considered when developing construction estimating estimates is scope or the overall size of the project. Scope refers to the full range of activities that a contractor plans to complete within the expected budget, as opposed to the specific scope of each job. Some examples of this scope would be the extent to which the roof will be replaced, windows and doors will be installed, walls will be erected, concrete will be poured, electrical wiring will be placed in place, and so forth. Contractors must carefully consider the size of a project and what, if anything, needs to be cut back in order to maintain a consistent level of budget. Click for more info about these services. Lastly, one of the primary factors considered in construction estimating is risk. The ultimate goal of a contractor is to avoid unnecessary risks, so projects are carefully planned and monitored to ensure the highest degree of safety. In general, it is estimated that most, if not all, construction estimating work is done by skilled laborers who are subject to very close supervision from supervisors. This level of supervision ensures that the majority of jobs are completed on schedule and within the budget established by the client. Although the construction estimating process by definition involves the use of statistical data and mathematical models, the use of intuition and subjective judgment is also essential in the estimation process. The majority of project managers, along with a large number of construction estimators, make the same mistake of judging the quality of a job based purely on the bid price. An accurate evaluation of a project requires the collection of unbiased and representative data that are then analyzed and interpreted. When using subjective judgment, it is important that estimators remain objective and focus on providing an honest opinion of the scope and magnitude of a project. In conclusion, the basic concepts and principles of construction estimating are fairly standard and well-known. However, it is important to remember that these concepts and principles are not static and cannot be simply taken for granted. The success of any construction project, regardless of its size, complexity, or location, hinges on the expertise, skill, and experience of the construction cost estimating expert. An accurate construction estimating service is essential for a successful construction project, however, it must also be kept in check by the individual estimator. To this end, it is extremely important for a project manager to ensure that his construction estimating service is both cost-effective and reliable. Here is an alternative post for more info on the topic: https://en.wikipedia.org/wiki/Home_construction.
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