Cost control is an important aspect that can substantially influence the achievement of any construction project. The construction estimates as a process should be managed and executed by a professional and committed team because it can be a good opportunity for the company to gain a competitive advantage during the bidding process. This article is a handy guide on how one can proceed to establish an estimation team and ensure the team consistently delivers excellent performance.
Hire Experienced Cost Estimators
The first key step that would help in building a great estimating team would be to ensure that cost estimators who are involved have adequate knowledge and experience in the construction industry. For the position of a professional estimator, the ideal candidate should have 5-10 years of practical experience working for a company that executes the type of construction projects that your firm undertakes. For the accumulation of accurate data, a Construction Cost Estimator with design and field experience will be most appropriate for the estimating process. It is preferable to hire estimators with certifications from relevant professional bodies as they Practice according to the best practices and have updated knowledge of material, methods, and laws.
Better-Estimating Software Or CAD Software
Provide your stakeholders with the most efficient estimating software and CAD services related to your projects. Accurate construction estimating software will equip your team with efficiency in gathering and compiling estimates based on the necessary construction materials, tools, and workforce. It will also assist you in maintaining a level of uniformity in the estimating process no matter how many projects you are working on. Likewise, CAD tools enable the generation of precise design drawings that serve the estimation process effectively. Minimize software expenses by using the ones provided by construction estimation companies as a service rather than purchasing them. Apart from using their software for access, engage them for training on how to harness the tools to the fullest.
Repeatable Estimating Process
A Repeatable Estimating Process can be defined as the process of developing consistent and reliable estimates of a project’s cost with the help of predefined templates and tools.
It is critical to have a precise estimating process to ensure that all estimates are integrated and include all aspects of the project. First divide estimates by usual construction drawing packages which are architectural, structural, mechanical, electrical, plumbing, etc. It is then useful to make checklists of cost items that must be included under each package based on previous project estimations. As far as fundamental cost differences pertain, it calls for the standardization of assumptions on costs, margins, contingencies, escalation, and location factors. It is important to understand that estimators should apply such a process to each estimate they prepare. It will bring order when performing the work by the various subgroups within the team. Furthermore, management-level estimators will double-check for any items that may have been omitted. As you progress through your projects, collect data that compares your estimate to the actual cost to enhance your process.
Perform Estimates Collaboratively
Construction projects involve many engineered elements and thus need estimation across different engineering disciplines. Give estimators the job of creating estimates for their specific part of the project like structures or MEP. Then encourage the exchange of estimates amongst estimators so that everyone in the team has an understanding of how his contribution has impacted the overall project cost estimate. This helps to organize estimators’ meetings and reviews to guarantee better coordination of the entire estimation team. It also offers a chance to learn from the seniors in the team for junior estimators and other employees involved.
Continuous Training
Estimating involves among other things the ability to keep abreast with the latest in construction material, techniques, regulations, and cost-benefit – a job that can only be described as unending. Conduct internal training meetings on a biweekly basis where team members report on the cost analysis that went into their estimates. It is necessary to conduct post-project reviews on the major wins and losses to assess the differences between the estimated costs and actual costs incurred. Include annual funding for outside professional development for, say new estimating software features or cost estimating credentials. Ensure that everyone in the team embraces learning as part of the team environment. Also, assign new estimators to the mentorship training with your best workers. The purpose is to perpetually deepen the overall knowledge and experience of the team in estimating.
Conclusion
The development of a strong and accurate estimating team is a long-term investment that will yield significant returns in the area of cost estimating for bidding purposes. As the best Construction Estimating Companies know that, they involve construction cost estimators experienced in converting drawings to project costs. Provide them with powerful weapons in terms of estimating and design. Standardizing the teaming process and multiplicative process expansion generate multiplied outputs. The group’s culture of embracing sharpened performance through enhanced professional skills development is maintained. Here are helpful tips that will help you formulate a team that will assist you in estimating the profits of your construction business.
