Everyone knows estimates play a pivotal role in determining project success and that getting them right is a game-changer. Estimating is like peering into a crystal ball – it allows us to predict the future. By meticulously analyzing project requirements, materials, labor, and other essential details, estimators provide an educated assessment of the cost, time, and resources needed for completion. It’s not magic, but rather a carefully calculated prediction.
The Power & Importance of Accuracy in Estimating
Why does accuracy in estimating matter? First, an accurate estimate ensures that projects stay within budget. No one wants unpleasant financial surprises during construction. Additionally, precise estimates help contractors to secure funding, establish realistic timelines, and enable informed decision-making. It’s akin to having a reliable roadmap guiding the entire construction process.
Remember the old adage “under-promise and over-deliver”? An accurate estimate allows you to achieve just that. Providing clients with realistic and precise estimates builds trust and enhances customer satisfaction. It demonstrates your ability to deliver on time and within budget, instilling confidence and fostering positive relationships. Satisfied clients often lead to repeat business and referrals.
On the other hand, imagine being halfway through a project and realizing you’ve underestimated the cost or time required. Panic ensues, budgets go haywire, and deadlines are compromised. Accurate estimates help to mitigate such catastrophes. By accounting for potential risks, unforeseen delays, and other factors, you’re better prepared to handle unexpected challenges and ensure smooth project progress.
Getting Your Estimate – and Your Software – Right
You can generate an estimate with any estimating software, but they’re not all created equal. Having construction estimating software that is flexible and works according to your specific needs is crucial. Every construction project is unique, with varying requirements and specifications. Flexibility in estimating software allows you to tailor the software to suit the intricacies of your project, ensuring accurate and customized cost estimates.
Construction projects often involve dynamic changes, such as design modifications, scope adjustments, or unforeseen challenges. In such scenarios, flexible estimating software enables you to quickly adapt and revise your estimates without disrupting the entire workflow. It allows you to easily incorporate changes, add or remove items, and adjust quantities, ensuring that your estimates remain up-to-date and accurate.
Finally, construction estimating software that works the way you need it to work enhances productivity and efficiency. When the software aligns with your preferred workflows and processes, it minimizes the learning curve and allows your team to seamlessly transition into using the software. This saves time and resources, enabling your team to focus on other critical aspects of the project.
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How Does Your Team Estimate?
Takeoff → Estimate
If your process is like many small to medium-size contractors, your go-to starting point is your takeoff. Your team measures the blueprints for a project, attaches items and assemblies based on the specs, and your estimating software calculates the amount of each type of material needed for the job based on the plans. You then add in information like overhead, sales tax, and markup to finalize your estimate.
Worksheet Estimating
Or, like many larger firms, you might start with a detailed spreadsheet, bypassing takeoffs altogether or adding takeoff information afterward, as you manually manipulate your data. You might need to include takeoffs with zero measurements, and you might need the ability to adjust quantities in a way that isn’t possible with takeoff-based estimates.
Selecting Your Software Based on Your Needs
A flexible and adaptable construction estimating software empowers you to generate accurate estimates, handle changes effectively, and streamline your workflow. It provides the necessary tools to meet the unique demands of each project, ultimately improving efficiency and success in construction estimation.
With STACK, you decide the best estimating method for you, and the software works accordingly. For takeoff-based estimates, benefits and features include the ability to:
- Leverage pre-built and custom items and assemblies
- Add items and assemblies to takeoffs before or after measuring/counting
- Account for labor as an assembly included in takeoffs
- Manually adjust estimates to incorporate non-measured costs
- Seamlessly pull in regional pricing
STACK’s estimating worksheet option allows you to:
- Customize and save views
- Freeze columns
- Add and remove rows and columns
- Group data manually or based on predefined information (labels, cost types, etc.)
- Manually adjust quantities for all cost types
- Manually add line items
- Manually add line items Include add-on costs
Don’t Settle for Less
From keeping projects within budget to satisfying clients and avoiding potential disasters, accurate estimates are the bedrock of successful construction ventures. So, the next time you find yourself immersed in blueprints and project plans, ask yourself if your estimating software is the essential element of your construction toolkit that it should be.
