While there is no art to creating accurate estimates for your construction job, it does require thoroughness and attention to detail to ensure that you not only cover the costs involved but, you also make the profits you’re after too. Challenging as it may be, here are some helpful tips to create concrete estimates for your next project.
Check the site before you issue an estimate
When estimating the cost of a project, it would be worth your while to check the site yourself as a starting point. This is more to give you a feel for the area and what the scope of the project is likely to entail, as well as provide you with an opportunity to identify any red flags right from the start.
Identify a timeline
Identifying a timeline is important for two reasons – one is to ensure that you set a deadline for the completion of the projects, and secondly, it is there to make sure that you obtain the profit margin you’re after within the time constraints you’ve allocated for it. Failure to estimate a timeline could result in underestimating the cost involved to complete the project (especially if you have extra overheads and fixed expenses to account for) which could then influence your profit margin substantially.
Make use of the applicable software
If you want to create estimates quickly and accurately, then software and apps are definitely the way to go. Moreover, you will reduce the likelihood of human error, and the speed at which you can create estimates is incomparable to doing it manually. For example, you could use roof estimating software to give you an aerial view of a roof’s dimensions, giving you a better indication of the scope of the project you’re going to be dealing with.
Construction estimating software alleviates stress in that it allows you to work out the finer costs of a project in next to no time at all. Furthermore, construction estimating software allows you to add material and labor costs seamlessly into your total budget; it helps you schedule payments for customers without you having to remember them yourself; it takes into account taxes in your total price, and you can send estimates from wherever you’re at without having to consult paperwork at the office to do so.
If one were to seriously contemplate getting really serious and more pedantic, if you will, about creating accurate estimates, then it’s a good idea to explore all the options available to ensure you’re doing your business justice when all is said and done.
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