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What the Top 25% of Construction Estimators Do
Estimating is more science than art. Estimates come from counting and price information. General conditions is a checklist of information filled out with project details. Overhead application is a formula calculated with the cost of running the construction organization. Bid pricing is based on competitor information as well as your internal company business demands.
The art is woven into the above science. Gut feel has to be used about construction methods and how they will impact costs. Can we trust our capability to get the job done in the contract time? What are the uncontollable issues in this project? Lastly, what cut / adds do we need to make as bid time approaches. As you know, we sometimes have to make a guess about extra costs, risk or opportunity.Unscienftic and as a word of counsel, be conservative when doing this
However, a bid begins with science. It will and never should be a majority of guesses.
Here is what the Top 25% of all Estimators Do:
For the rest of this chapter, read my book, Managing a Construction Firm on Just 24 Hours a Day (McGraw Hill, 2007, 406 pages). To order our book, go to any major outlet i.e. Amazon, Walden Books, Barnes and Noble, Reiter's. Brown's Stationers (UK), Borders, Booktopia (AUS) and other fine book retailers. You may order the bundle of book, 50 MS Excel Templates (featured in the book) and 55 e-classes at www.stevensci.com - click on the book image.
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Matt Stevens is a management consultant who works only with construction contractors. He has performed training and business consultation for the contracting community since 1994. Matt can be reached at mstevens@stevensci.com.
search terms: Pre-construction, post-mortem, lessons learned, Pricing, Bidding, Labor Rates, Software, Estimate
Posted by Matt Stevens at October 4, 2007 10:42 AM
Comments
hi,
please send me this info,seem interesting, I am starting a new busines in new construction and renovation.
thank you!
denis
Posted by: d.seguin at November 10, 2005 8:50 AM
I too am contemplating entering the renovation business and am curious what you have to offer
Posted by: Bill at November 23, 2005 2:26 PM